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

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have been assigned an average rating of “Buy” from the eight brokerages that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $15.67.

SLDB has been the topic of a number of recent analyst reports. Leerink Partnrs upgraded shares of Solid Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 24th. Leerink Partners raised shares of Solid Biosciences from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a research report on Monday, June 24th. Piper Sandler reaffirmed an “overweight” rating and set a $20.00 price objective on shares of Solid Biosciences in a research report on Friday, June 21st. William Blair raised shares of Solid Biosciences to a “strong-buy” rating in a research report on Friday, August 30th. Finally, JPMorgan Chase & Co. raised shares of Solid Biosciences from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $10.00 to $15.00 in a research report on Monday, July 15th.

Solid Biosciences Stock Performance

Shares of Solid Biosciences stock opened at $6.60 on Monday. The firm has a market cap of $254.76 million, a PE ratio of -2.00 and a beta of 1.90. The firm’s 50-day simple moving average is $7.79 and its 200-day simple moving average is $8.28. Solid Biosciences has a 1 year low of $1.81 and a 1 year high of $15.05.

Solid Biosciences (NASDAQ:SLDB) last issued its earnings results on Tuesday, August 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.05. On average, equities analysts predict that Solid Biosciences will post -2.61 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Point72 DIFC Ltd acquired a new stake in shares of Solid Biosciences in the 2nd quarter worth approximately $58,000. Ground Swell Capital LLC acquired a new stake in shares of Solid Biosciences in the 2nd quarter worth approximately $76,000. Algert Global LLC acquired a new stake in shares of Solid Biosciences in the 2nd quarter worth approximately $82,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Solid Biosciences in the 2nd quarter worth approximately $92,000. Finally, Rhumbline Advisers acquired a new stake in shares of Solid Biosciences in the 2nd quarter worth approximately $191,000. Institutional investors own 81.46% of the company’s stock.

About Solid Biosciences

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.