Solid Biosciences Inc. (NASDAQ:SLDB) Receives Consensus Rating of "Buy" from Brokerages

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.

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

A number of research analysts have recently issued reports on the company. Wall Street Zen raised Solid Biosciences from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Wedbush dropped their target price on shares of Solid Biosciences from $17.00 to $14.00 and set an "outperform" rating for the company in a report on Wednesday, August 13th. JPMorgan Chase & Co. dropped their target price on shares of Solid Biosciences from $15.00 to $13.00 and set an "overweight" rating for the company in a report on Thursday, August 14th. HC Wainwright reiterated a "buy" rating and set a $20.00 target price on shares of Solid Biosciences in a report on Tuesday, June 17th. Finally, Piper Sandler dropped their target price on shares of Solid Biosciences from $20.00 to $17.00 and set an "overweight" rating for the company in a report on Friday, May 16th.

Institutional Trading of Solid Biosciences

Institutional investors have recently modified their holdings of the company. CWM LLC boosted its holdings in shares of Solid Biosciences by 15,188.5% during the first quarter. CWM LLC now owns 7,950 shares of the company's stock worth $29,000 after purchasing an additional 7,898 shares during the period. Legal & General Group Plc lifted its holdings in Solid Biosciences by 208.6% in the second quarter. Legal & General Group Plc now owns 6,011 shares of the company's stock worth $29,000 after buying an additional 4,063 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in Solid Biosciences by 205.5% in the second quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company's stock worth $33,000 after buying an additional 4,534 shares during the period. Corton Capital Inc. purchased a new stake in Solid Biosciences in the fourth quarter worth about $41,000. Finally, Ground Swell Capital LLC purchased a new stake in Solid Biosciences in the first quarter worth about $42,000. 81.46% of the stock is currently owned by hedge funds and other institutional investors.

Solid Biosciences Price Performance

NASDAQ SLDB traded down $0.06 during trading hours on Thursday, reaching $5.50. 1,143,050 shares of the stock traded hands, compared to its average volume of 813,463. The stock has a 50 day simple moving average of $5.91 and a two-hundred day simple moving average of $4.65. Solid Biosciences has a 1 year low of $2.41 and a 1 year high of $8.65. The company has a market cap of $428.28 million, a price-to-earnings ratio of -1.96 and a beta of 2.54.

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