Solid Biosciences Inc. (NASDAQ:SLDB) Receives $15.10 Consensus Target Price from Brokerages

Key Points

• Solid Biosciences Inc. has received an average rating of "Buy" from twelve research firms, with a consensus 1-year price target of $15.10.
• Several analysts have recently updated their ratings and target prices, with Citigroup setting a target of $14.00, while HC Wainwright maintains a target of $20.00.
• The stock's current P/E ratio is -2.10, with a market cap of approximately $487.54 million, and it opened at $6.29 on Friday.

Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) has been assigned an average rating of "Buy" from the twelve analysts that are covering the firm, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $15.10.

SLDB has been the subject of a number of analyst reports. JMP Securities reissued a "market outperform" rating and set a $15.00 price objective on shares of Solid Biosciences in a research report on Friday, June 6th. Wedbush dropped their price objective on Solid Biosciences from $18.00 to $17.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Cantor Fitzgerald set a $16.00 target price on Solid Biosciences and gave the company an "overweight" rating in a report on Monday, July 21st. HC Wainwright restated a "buy" rating and issued a $20.00 price objective on shares of Solid Biosciences in a report on Tuesday, June 17th. Finally, Barclays lowered their price objective on Solid Biosciences from $15.00 to $10.00 and set an "overweight" rating for the company in a research note on Friday, May 16th.

Solid Biosciences Trading Down 0.7%

NASDAQ SLDB traded down $0.04 on Friday, reaching $6.04. 1,665,197 shares of the stock were exchanged, compared to its average volume of 1,957,073. Solid Biosciences has a one year low of $2.41 and a one year high of $10.37. The company's 50-day simple moving average is $5.45 and its two-hundred day simple moving average is $4.36. The firm has a market capitalization of $468.16 million, a PE ratio of -2.02 and a beta of 2.44.

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

Institutional Investors Weigh In On Solid Biosciences

Institutional investors have recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. lifted its stake in Solid Biosciences by 285.0% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 6,729,484 shares of the company's stock worth $24,899,000 after purchasing an additional 4,981,400 shares in the last quarter. Bain Capital Life Sciences Investors LLC raised its position in shares of Solid Biosciences by 96.1% during the 1st quarter. Bain Capital Life Sciences Investors LLC now owns 7,911,669 shares of the company's stock valued at $29,273,000 after buying an additional 3,877,087 shares in the last quarter. Siren L.L.C. raised its position in shares of Solid Biosciences by 97.8% during the 1st quarter. Siren L.L.C. now owns 7,415,905 shares of the company's stock valued at $27,439,000 after buying an additional 3,666,864 shares in the last quarter. MPM Bioimpact LLC purchased a new stake in shares of Solid Biosciences during the 1st quarter valued at $6,077,000. Finally, Redmile Group LLC raised its position in shares of Solid Biosciences by 228.2% during the 1st quarter. Redmile Group LLC now owns 2,019,171 shares of the company's stock valued at $7,471,000 after buying an additional 1,403,925 shares in the last quarter. 81.46% of the stock is owned by institutional investors.

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.