Solid Biosciences Inc. (NASDAQ:SLDB) Receives $15.10 Consensus PT from Analysts

Shares of Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) have been assigned an average recommendation of "Buy" from the twelve brokerages that are presently covering the stock, Marketbeat.com reports. Ten analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $15.10.

Several brokerages recently issued reports on SLDB. HC Wainwright reaffirmed a "buy" rating and set a $20.00 price target on shares of Solid Biosciences in a report on Tuesday, June 17th. Citigroup assumed coverage on shares of Solid Biosciences in a research report on Thursday, June 26th. They set a "buy" rating and a $14.00 target price on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $16.00 target price on shares of Solid Biosciences in a report on Thursday, May 22nd. Chardan Capital reduced their price target on shares of Solid Biosciences from $16.00 to $15.00 and set a "buy" rating for the company in a research report on Monday, May 19th. Finally, Wedbush cut their price objective on shares of Solid Biosciences from $18.00 to $17.00 and set an "outperform" rating for the company in a research report on Friday, May 16th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. CWM LLC grew its stake in shares of Solid Biosciences by 15,188.5% in the 1st quarter. CWM LLC now owns 7,950 shares of the company's stock valued at $29,000 after purchasing an additional 7,898 shares during the last quarter. Corton Capital Inc. acquired a new position in Solid Biosciences during the fourth quarter worth $41,000. Ground Swell Capital LLC acquired a new position in Solid Biosciences during the first quarter worth $42,000. Invesco Ltd. acquired a new position in shares of Solid Biosciences in the fourth quarter worth $49,000. Finally, Sei Investments Co. acquired a new position in shares of Solid Biosciences in the fourth quarter worth $52,000. Hedge funds and other institutional investors own 81.46% of the company's stock.

Solid Biosciences Price Performance

Solid Biosciences stock traded up $0.35 during midday trading on Wednesday, hitting $5.93. The company's stock had a trading volume of 920,647 shares, compared to its average volume of 1,206,858. Solid Biosciences has a 1-year low of $2.41 and a 1-year high of $10.37. The company has a market cap of $459.87 million, a price-to-earnings ratio of -1.98 and a beta of 2.34. The company has a 50-day moving average price of $4.13 and a two-hundred day moving average price of $3.98.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.06). Sell-side analysts forecast that Solid Biosciences will post -2.84 EPS 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.