Solid Biosciences (NASDAQ:SLDB) Upgraded to Outperform at SVB Leerink

SVB Leerink upgraded shares of Solid Biosciences (NASDAQ:SLDB) from a market perform rating to an outperform rating in a research note released on Monday, Marketbeat reports. The firm currently has $12.00 price target on the stock.

A number of other analysts have also weighed in on SLDB. HC Wainwright reiterated a buy rating and issued a $16.00 target price on shares of Solid Biosciences in a research note on Monday, May 20th. Barclays reduced their target price on Solid Biosciences from $21.00 to $18.00 and set an overweight rating on the stock in a research note on Thursday, May 16th. William Blair reiterated an outperform rating on shares of Solid Biosciences in a research note on Thursday, March 28th. JPMorgan Chase & Co. dropped their price target on Solid Biosciences from $12.00 to $10.00 and set a neutral rating on the stock in a research report on Friday, May 31st. Finally, Piper Sandler reissued an overweight rating and set a $20.00 price target on shares of Solid Biosciences in a research report on Friday, June 21st. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Solid Biosciences presently has a consensus rating of Buy and an average price target of $15.33.

Solid Biosciences Stock Performance

NASDAQ:SLDB opened at $5.74 on Monday. The stock’s fifty day moving average is $8.34 and its 200 day moving average is $8.75. Solid Biosciences has a fifty-two week low of $1.81 and a fifty-two week high of $15.05. The firm has a market capitalization of $220.30 million, a PE ratio of -1.46 and a beta of 1.87. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.94 and a current ratio of 14.94.

Solid Biosciences (NASDAQ:SLDB) last released its earnings results on Wednesday, May 15th. The company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). On average, sell-side analysts anticipate that Solid Biosciences will post -2.64 earnings per share for the current year.

Institutional Investors Weigh In On Solid Biosciences

Institutional investors have recently added to or reduced their stakes in the stock. Vestal Point Capital LP bought a new stake in Solid Biosciences during the fourth quarter valued at about $209,000. Vanguard Group Inc. boosted its position in Solid Biosciences by 283.9% during the first quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock valued at $16,578,000 after purchasing an additional 920,404 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in Solid Biosciences during the 1st quarter valued at $23,935,000. Artal Group S.A. grew its holdings in Solid Biosciences by 175.0% during the 1st quarter. Artal Group S.A. now owns 2,500,000 shares of the company’s stock valued at $33,300,000 after buying an additional 1,590,781 shares during the last quarter. Finally, Bain Capital Life Sciences Investors LLC grew its holdings in Solid Biosciences by 28.9% during the 1st quarter. Bain Capital Life Sciences Investors LLC now owns 4,034,582 shares of the company’s stock valued at $53,741,000 after buying an additional 904,160 shares during the last quarter. Institutional investors own 81.46% of the company’s stock.

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.