Solid Biosciences Inc. (NASDAQ:SLDB) Stock Has Average Price Target of $18.79 According to Analysts

Key Points

• Analysts hold a “Moderate Buy” consensus on Solid Biosciences, with 12 buy ratings, one strong buy, and one sell. The average 12-month price target is $18.79, compared with the stock’s recent $6.00 opening price.
• Recent analyst actions were generally positive: Cantor Fitzgerald raised its target to $26, Truist Financial increased its target to $20, and RBC initiated coverage with an $18 target, although Weiss Ratings maintained a sell rating.
• Solid Biosciences reported a quarterly loss of $0.38 per share, beating the $0.46 consensus loss estimate. Institutional investors and hedge funds own approximately 81.46% of the company’s shares.

Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the fourteen analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, twelve have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $18.79.

Several equities research analysts recently issued reports on the company. Royal Bank Of Canada began coverage on Solid Biosciences in a research report on Wednesday, September 16th. They set an "outperform" rating and a $18.00 price target on the stock. Truist Financial raised their price objective on Solid Biosciences from $16.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, August 21st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Solid Biosciences in a report on Thursday, October 15th. Cantor Fitzgerald boosted their target price on shares of Solid Biosciences from $16.00 to $26.00 and gave the company an "overweight" rating in a research note on Thursday, August 27th. Finally, HC Wainwright reiterated a "buy" rating on shares of Solid Biosciences in a research note on Tuesday, October 27th.

Solid Biosciences Stock Performance

Shares of SLDB opened at $6.00 on Tuesday. Solid Biosciences has a fifty-two week low of $3.79 and a fifty-two week high of $11.45. The company has a market capitalization of $643.32 million, a PE ratio of -3.14 and a beta of 2.47. The stock has a fifty day moving average of $7.75 and a two-hundred day moving average of $7.65.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.08. As a group, equities research analysts forecast that Solid Biosciences will post -1.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in Solid Biosciences during the 3rd quarter worth $40,000. China Universal Asset Management Co. Ltd. boosted its holdings in Solid Biosciences by 24.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 19,564 shares of the company's stock valued at $140,000 after acquiring an additional 3,896 shares during the period. Engineers Gate Manager LP boosted its holdings in Solid Biosciences by 34.5% during the second quarter. Engineers Gate Manager LP now owns 28,915 shares of the company's stock valued at $289,000 after acquiring an additional 7,410 shares during the period. AXQ Capital LP acquired a new stake in shares of Solid Biosciences in the second quarter valued at about $197,000. Finally, Wellington Management Group LLP grew its position in shares of Solid Biosciences by 14.9% in the second quarter. Wellington Management Group LLP now owns 185,365 shares of the company's stock valued at $1,852,000 after purchasing an additional 24,087 shares during the last quarter. Institutional investors and hedge funds own 81.46% of the company's stock.

Solid Biosciences Company Profile

Solid Biosciences Inc NASDAQ: SLDB is a biotechnology company focused on developing gene therapies for neuromuscular and other serious genetic diseases. The company uses adeno-associated virus (AAV) delivery technologies and genetic medicine approaches to develop treatments intended to address the underlying causes of disease.

Its lead investigational program, SGT-003, is being developed as a gene therapy for Duchenne muscular dystrophy, a severe X-linked muscle-wasting disorder. Solid Biosciences also has additional preclinical and clinical programs targeting other neuromuscular conditions, including diseases associated with defects in muscle proteins.

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