Solid Biosciences Inc. (NASDAQ:SLDB) Receives $17.50 Consensus Price Target from Brokerages

Shares of Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) have received an average recommendation of "Buy" from the six analysts that are covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have covered the stock in the last year is $17.50.

A number of brokerages have recently weighed in on SLDB. Barclays dropped their price target on Solid Biosciences from $21.00 to $18.00 and set an "overweight" rating for the company in a research report on Thursday. Citigroup initiated coverage on Solid Biosciences in a research note on Friday, March 15th. They set a "buy" rating and a $16.00 price objective on the stock. Piper Sandler upgraded shares of Solid Biosciences from a "neutral" rating to an "overweight" rating and upped their target price for the company from $8.00 to $20.00 in a report on Thursday, March 14th. William Blair reaffirmed an "outperform" rating on shares of Solid Biosciences in a research note on Thursday, March 28th. Finally, HC Wainwright reissued a "buy" rating and set a $16.00 price objective on shares of Solid Biosciences in a research note on Thursday, March 14th.

Solid Biosciences Price Performance

Shares of SLDB stock traded down $0.35 during mid-day trading on Friday, reaching $8.95. The stock had a trading volume of 211,255 shares, compared to its average volume of 302,792. Solid Biosciences has a 12-month low of $1.81 and a 12-month high of $15.05. The company has a market cap of $338.85 million, a P/E ratio of -2.27 and a beta of 2.02. The business has a 50-day simple moving average of $11.04 and a 200 day simple moving average of $7.83. The company has a current ratio of 8.94, a quick ratio of 8.94 and a debt-to-equity ratio of 0.01.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last announced its quarterly earnings results on Wednesday, March 13th. The company reported ($1.00) earnings per share for the quarter, beating analysts' consensus estimates of ($1.01) by $0.01. 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

Several hedge funds have recently modified their holdings of SLDB. Vestal Point Capital LP acquired a new position in Solid Biosciences in the fourth quarter valued at $209,000. Vanguard Group Inc. increased its stake in Solid Biosciences by 283.9% during the first quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company's stock worth $16,578,000 after acquiring an additional 920,404 shares during the last quarter. Bain Capital Life Sciences Investors LLC increased its stake in Solid Biosciences by 28.9% during the first quarter. Bain Capital Life Sciences Investors LLC now owns 4,034,582 shares of the company's stock worth $53,741,000 after acquiring an additional 904,160 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in Solid Biosciences during the first quarter worth about $23,935,000. Finally, Artal Group S.A. increased its stake in Solid Biosciences by 175.0% during the first quarter. Artal Group S.A. now owns 2,500,000 shares of the company's stock worth $33,300,000 after acquiring an additional 1,590,781 shares during 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.