Solid Biosciences Inc. (NASDAQ:SLDB) Given Average Recommendation of "Buy" by Brokerages

Key Points

• Solid Biosciences Inc. has received an average consensus rating of "Buy" from eleven research firms, with ten analysts recommending a buy and one a strong buy, targeting an average price of $15.00.
• Institutional investors recently increased their stakes in Solid Biosciences, with some firms boosting their positions by over 200%, leading to 81.46% of the stock being owned by institutional investors.
• Solid Biosciences reported earnings of ($0.42) per share for the last quarter, beating the consensus estimate and analysts project an average of $-2.84 earnings per share for the current year.

Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) has received a consensus rating of "Buy" from the eleven research firms that are currently covering the stock, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $15.00.

A number of equities analysts recently weighed in on the company. Cantor Fitzgerald set a $16.00 price target on Solid Biosciences and gave the company an "overweight" rating in a research report on Monday, July 21st. Citigroup assumed coverage on Solid Biosciences in a research report on Thursday, June 26th. They issued a "buy" rating and a $14.00 price target for the company. JMP Securities reiterated a "market outperform" rating and issued a $15.00 price target on shares of Solid Biosciences in a research report on Friday, June 6th. JPMorgan Chase & Co. decreased their price target on Solid Biosciences from $15.00 to $13.00 and set an "overweight" rating for the company in a research report on Thursday, August 14th. Finally, Wall Street Zen lowered Solid Biosciences from a "hold" rating to a "sell" rating in a research report on Saturday, September 13th.

Institutional Investors Weigh In On Solid Biosciences

Institutional investors have recently bought and sold shares of the business. CWM LLC boosted its position in Solid Biosciences by 15,188.5% during the 1st quarter. CWM LLC now owns 7,950 shares of the company's stock worth $29,000 after acquiring an additional 7,898 shares during the period. Legal & General Group Plc boosted its position in Solid Biosciences by 208.6% during the 2nd quarter. Legal & General Group Plc now owns 6,011 shares of the company's stock worth $29,000 after acquiring an additional 4,063 shares during the period. Ameritas Investment Partners Inc. boosted its position in Solid Biosciences by 205.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company's stock worth $33,000 after acquiring an additional 4,534 shares during the period. Ground Swell Capital LLC acquired a new stake in Solid Biosciences during the 1st quarter worth about $42,000. Finally, Pallas Capital Advisors LLC acquired a new stake in Solid Biosciences during the 2nd quarter worth about $54,000. 81.46% of the stock is currently owned by institutional investors and hedge funds.

Solid Biosciences Stock Up 3.9%

Shares of SLDB stock opened at $6.15 on Monday. The stock has a 50-day simple moving average of $5.96 and a 200 day simple moving average of $4.63. Solid Biosciences has a fifty-two week low of $2.41 and a fifty-two week high of $7.57. The stock has a market capitalization of $478.90 million, a P/E ratio of -2.20 and a beta of 2.54.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.51) by $0.09. On average, sell-side analysts anticipate that Solid Biosciences will post -2.84 earnings per share for the current year.

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.

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