Solid Biosciences Inc. (NASDAQ:SLDB) Given Average Rating of "Buy" by Analysts

Key Points

• Solid Biosciences Inc. has received a consensus rating of "Buy" from the majority of analysts, with a price target averaging $15.00.
• In its latest earnings report, the company surpassed expectations by posting a loss of ($0.42) EPS, beating the consensus estimate of ($0.51) by $0.09.
• Institutional investors have increased their stakes in Solid Biosciences, with Bain Capital Life Sciences boosting its holdings by 96.1% in the first quarter.

Shares of Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) have been given a consensus recommendation of "Buy" by the eleven research firms that are currently covering the stock, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $15.00.

Several analysts have commented on SLDB shares. Piper Sandler decreased their price objective on shares of Solid Biosciences from $20.00 to $17.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. JMP Securities restated a "market outperform" rating and set a $15.00 price objective on shares of Solid Biosciences in a research note on Friday, June 6th. Chardan Capital restated a "buy" rating and set a $15.00 price objective on shares of Solid Biosciences in a research note on Thursday, August 14th. Citigroup started coverage on shares of Solid Biosciences in a report on Thursday, June 26th. They set a "buy" rating and a $14.00 target price for the company. Finally, Cantor Fitzgerald set a $16.00 target price on shares of Solid Biosciences and gave the company an "overweight" rating in a report on Monday, July 21st.

Institutional Investors Weigh In On Solid Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLDB. Wells Fargo & Company MN increased its holdings in Solid Biosciences by 29.4% in the 4th quarter. Wells Fargo & Company MN now owns 13,138 shares of the company's stock worth $53,000 after acquiring an additional 2,986 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Solid Biosciences by 270.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 264,069 shares of the company's stock worth $1,056,000 after acquiring an additional 192,714 shares in the last quarter. Algert Global LLC boosted its stake in Solid Biosciences by 45.7% during the 4th quarter. Algert Global LLC now owns 22,089 shares of the company's stock worth $88,000 after purchasing an additional 6,930 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in Solid Biosciences during the 4th quarter worth $176,000. Finally, Bank of America Corp DE boosted its stake in Solid Biosciences by 87.9% during the 4th quarter. Bank of America Corp DE now owns 83,471 shares of the company's stock worth $334,000 after purchasing an additional 39,056 shares during the last quarter. Hedge funds and other institutional investors own 81.46% of the company's stock.

Solid Biosciences Stock Performance

SLDB stock traded down $0.18 during trading on Thursday, reaching $5.32. The company had a trading volume of 146,476 shares, compared to its average volume of 1,830,844. The firm has a 50-day simple moving average of $5.91 and a 200-day simple moving average of $4.63. The company has a market cap of $414.27 million, a price-to-earnings ratio of -1.92 and a beta of 2.54. Solid Biosciences has a twelve month low of $2.41 and a twelve month high of $8.45.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported ($0.42) EPS for the quarter, topping analysts' consensus estimates of ($0.51) by $0.09. Sell-side analysts expect that Solid Biosciences will post -2.84 earnings per share for the current year.

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.