Solid Biosciences (NASDAQ:SLDB) Coverage Initiated by Analysts at Citigroup

Investment analysts at Citigroup assumed coverage on shares of Solid Biosciences (NASDAQ:SLDB - Get Free Report) in a research report issued on Thursday, MarketBeat reports. The brokerage set a "buy" rating and a $14.00 price target on the stock. Citigroup's target price would suggest a potential upside of 191.06% from the company's current price.

A number of other research analysts also recently weighed in on the stock. JMP Securities restated 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 lowered their price target on Solid Biosciences from $18.00 to $17.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. HC Wainwright reaffirmed a "buy" rating and issued a $20.00 price objective on shares of Solid Biosciences in a report on Tuesday, June 17th. JPMorgan Chase & Co. reduced their price objective on Solid Biosciences from $12.00 to $11.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $16.00 target price on shares of Solid Biosciences in a research report on Thursday, May 22nd. Nine research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $15.10.

Solid Biosciences Price Performance

Solid Biosciences stock opened at $4.81 on Thursday. Solid Biosciences has a one year low of $2.41 and a one year high of $10.37. The business's fifty day moving average is $3.63 and its 200 day moving average is $3.91. The stock has a market capitalization of $372.82 million, a PE ratio of -1.61 and a beta of 2.22.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.06). As a group, sell-side analysts expect that Solid Biosciences will post -2.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Solid Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLDB. CWM LLC raised its position in shares of Solid Biosciences by 15,188.5% during 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 period. Corton Capital Inc. bought a new position in shares of Solid Biosciences in the fourth quarter worth about $41,000. Ground Swell Capital LLC purchased a new stake in shares of Solid Biosciences during the first quarter worth about $42,000. Invesco Ltd. purchased a new stake in shares of Solid Biosciences during the fourth quarter worth about $49,000. Finally, Sei Investments Co. bought a new stake in Solid Biosciences during the 4th quarter valued at approximately $52,000. 81.46% of the stock is owned by hedge funds and other 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.