Solid Biosciences Inc. (NASDAQ:SLDB) Stock Has Average Target Price of $18.69 According to Brokerages

Key Points

• Analysts rate Solid Biosciences “Moderate Buy”: 12 of 13 analysts recommend buying the stock, while one recommends selling. The average 12-month price target is $18.69, well above the recent price of $6.82.
• Several firms recently raised their targets, including Cantor Fitzgerald to $26 and Truist Financial to $20; Loop Capital set a $25 target, while RBC initiated coverage with an $18 target and an “outperform” rating.
• Institutional investors own 81.46% of the company, although shares have declined 0.4% recently. Solid Biosciences reported a quarterly loss of $0.38 per share, beating analyst expectations for a $0.46 loss, and is developing gene therapies for rare diseases including Duchenne muscular dystrophy.

Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) has received a consensus rating of "Moderate Buy" from the thirteen analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and twelve have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $18.69.

A number of analysts have recently commented on the stock. Cantor Fitzgerald boosted their target price on shares of Solid Biosciences from $16.00 to $26.00 and gave the stock an "overweight" rating in a research note on Thursday, August 27th. Wall Street Zen raised shares of Solid Biosciences from a "strong sell" rating to a "sell" rating in a research note on Saturday, July 4th. Truist Financial upped their price target on Solid Biosciences from $16.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, August 21st. Loop Capital set a $25.00 target price on Solid Biosciences in a research report on Monday, September 14th. Finally, Royal Bank Of Canada began coverage on shares of Solid Biosciences in a research report on Wednesday, September 16th. They set an "outperform" rating and a $18.00 price target on the stock.

Institutional Trading of Solid Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the company. AXQ Capital LP purchased a new position in Solid Biosciences in the 2nd quarter valued at $197,000. Hsbc Holdings PLC boosted its position in Solid Biosciences by 78.4% during the first quarter. Hsbc Holdings PLC now owns 39,511 shares of the company's stock worth $284,000 after purchasing an additional 17,360 shares in the last quarter. Engineers Gate Manager LP boosted its position in shares of Solid Biosciences by 34.5% in the 2nd quarter. Engineers Gate Manager LP now owns 28,915 shares of the company's stock worth $289,000 after buying an additional 7,410 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Solid Biosciences by 135.4% in the first quarter. Renaissance Technologies LLC now owns 124,272 shares of the company's stock valued at $895,000 after purchasing an additional 71,472 shares in the last quarter. Finally, Stempoint Capital LP acquired a new stake in Solid Biosciences during the 1st quarter valued at $1,407,000. Institutional investors and hedge funds own 81.46% of the company's stock.

Solid Biosciences Trading Down 0.4%

NASDAQ SLDB opened at $6.82 on Friday. Solid Biosciences has a 12-month low of $3.79 and a 12-month high of $11.45. The firm's fifty day simple moving average is $8.70 and its two-hundred day simple moving average is $8.24. The firm has a market capitalization of $731.27 million, a P/E ratio of -3.57 and a beta of 2.47.

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

Solid Biosciences Company Profile

Solid Biosciences Inc is a biotechnology company focused on developing genetic medicines for patients with rare diseases. The company's research platform is centered on adeno-associated virus (AAV) gene therapy and other genetic medicine technologies intended to address the underlying causes of disease.

Solid Biosciences' lead program is SGT-003, an investigational gene therapy being developed for Duchenne muscular dystrophy, a severe inherited neuromuscular disorder. The company is also developing additional programs for rare cardiac and neuromuscular conditions, including SGT-501 for BAG3-associated dilated cardiomyopathy.

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