Solid Biosciences Inc. (NASDAQ:SLDB) Receives Average Recommendation of “Buy” from Analysts

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have earned a consensus recommendation of “Buy” from the twelve brokerages that are currently covering the company, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy rating and four have given a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $15.67.

Several research firms have recently commented on SLDB. Wedbush began coverage on Solid Biosciences in a report on Friday, December 13th. They set an “outperform” rating and a $16.00 target price for the company. Chardan Capital restated a “buy” rating and issued a $16.00 target price on shares of Solid Biosciences in a research report on Friday, March 7th. JMP Securities initiated coverage on Solid Biosciences in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $15.00 target price on the stock. Citizens Jmp upgraded Solid Biosciences to a “strong-buy” rating in a research report on Tuesday, December 10th. Finally, Truist Financial initiated coverage on Solid Biosciences in a research note on Wednesday, January 8th. They set a “buy” rating and a $16.00 price target for the company.

Solid Biosciences Stock Up 5.3 %

Shares of Solid Biosciences stock opened at $5.36 on Thursday. The firm has a market cap of $415.36 million, a P/E ratio of -1.76 and a beta of 1.98. Solid Biosciences has a fifty-two week low of $2.88 and a fifty-two week high of $15.05. The business has a 50-day moving average price of $4.20 and a 200 day moving average price of $5.39.

Institutional Investors Weigh In On Solid Biosciences

Institutional investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. acquired a new stake in Solid Biosciences during the fourth quarter worth about $34,000. Corton Capital Inc. acquired a new stake in Solid Biosciences during the fourth quarter valued at approximately $41,000. Invesco Ltd. acquired a new stake in Solid Biosciences during the fourth quarter valued at approximately $49,000. Sei Investments Co. acquired a new stake in Solid Biosciences during the fourth quarter valued at approximately $52,000. Finally, Wells Fargo & Company MN boosted its holdings in Solid Biosciences by 29.4% during the fourth quarter. Wells Fargo & Company MN now owns 13,138 shares of the company’s stock valued at $53,000 after purchasing an additional 2,986 shares in the last quarter. 81.46% of the stock is owned by institutional investors and hedge funds.

Solid Biosciences Company Profile

Solid Biosciences Inc, a life science company, develops therapies for neuromuscular and cardiac diseases in the United States. The company's lead product candidate is SGT-003, a gene transfer candidate for the treatment of Duchenne muscular dystrophy; and SGT-501 to treat Catecholaminergic polymorphic ventricular tachycardia.