Solid Biosciences (NASDAQ:SLDB) Receives Buy Rating from HC Wainwright

Solid Biosciences (NASDAQ:SLDB - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They currently have a $20.00 price objective on the stock. HC Wainwright's price objective indicates a potential upside of 298.41% from the stock's previous close.

A number of other research firms also recently commented on SLDB. Chardan Capital dropped their price objective on shares of Solid Biosciences from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Monday, May 19th. JPMorgan Chase & Co. cut their price target on shares of Solid Biosciences from $12.00 to $11.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Piper Sandler decreased their price target on shares of Solid Biosciences from $20.00 to $17.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Cantor Fitzgerald restated an "overweight" rating and set a $16.00 price objective on shares of Solid Biosciences in a report on Thursday, May 22nd. Finally, JMP Securities restated a "market outperform" rating and set a $15.00 price target on shares of Solid Biosciences in a research note on Friday, June 6th. Ten investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $14.90.

Solid Biosciences Price Performance

Solid Biosciences stock opened at $5.02 on Tuesday. The stock's 50 day moving average price is $3.31 and its 200 day moving average price is $3.92. The company has a market cap of $389.13 million, a PE ratio of -1.65 and a beta of 2.22. Solid Biosciences has a 1-year low of $2.41 and a 1-year high of $10.37.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported ($0.59) EPS for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.06). On average, equities research analysts anticipate that Solid Biosciences will post -2.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Solid Biosciences

A number of hedge funds have recently added to or reduced their stakes in SLDB. JPMorgan Chase & Co. increased its stake in shares of Solid Biosciences by 9,393.8% in the fourth quarter. JPMorgan Chase & Co. now owns 955,932 shares of the company's stock valued at $3,824,000 after purchasing an additional 945,863 shares during the period. Renaissance Technologies LLC increased its position in Solid Biosciences by 12.7% in the 4th quarter. Renaissance Technologies LLC now owns 82,493 shares of the company's stock valued at $330,000 after acquiring an additional 9,281 shares during the period. Wellington Management Group LLP raised its stake in Solid Biosciences by 4.0% during the 4th quarter. Wellington Management Group LLP now owns 124,551 shares of the company's stock valued at $498,000 after acquiring an additional 4,747 shares in the last quarter. Rhumbline Advisers boosted its position in Solid Biosciences by 10.5% during the 4th quarter. Rhumbline Advisers now owns 43,677 shares of the company's stock worth $175,000 after acquiring an additional 4,161 shares during the period. Finally, Prudential Financial Inc. increased its holdings in shares of Solid Biosciences by 71.3% during the fourth quarter. Prudential Financial Inc. now owns 109,105 shares of the company's stock valued at $436,000 after purchasing an additional 45,400 shares during the period. 81.46% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.