Solid Biosciences Inc. (NASDAQ:SLDB) Receives $18.25 Consensus Price Target from Brokerages

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have received an average rating of “Buy” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $18.25.

Several equities research analysts recently weighed in on the stock. Barclays upped their price objective on shares of Solid Biosciences from $8.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price target on shares of Solid Biosciences in a research note on Thursday, March 14th. Citigroup began coverage on shares of Solid Biosciences in a report on Friday, March 15th. They issued a “buy” rating and a $16.00 price target for the company. Piper Sandler upgraded Solid Biosciences from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $8.00 to $20.00 in a research report on Thursday, March 14th. Finally, William Blair restated an “outperform” rating on shares of Solid Biosciences in a report on Thursday, March 28th.

Institutional Trading of Solid Biosciences

A hedge fund recently bought a new stake in Solid Biosciences stock. Vestal Point Capital LP purchased a new stake in shares of Solid Biosciences Inc. (NASDAQ:SLDB) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 34,085 shares of the company’s stock, valued at approximately $209,000. Vestal Point Capital LP owned approximately 0.17% of Solid Biosciences as of its most recent SEC filing. Institutional investors and hedge funds own 81.46% of the company’s stock.

Solid Biosciences Trading Up 5.2 %

Solid Biosciences stock opened at $8.98 on Monday. The firm has a 50-day moving average price of $11.06 and a two-hundred day moving average price of $7.10. Solid Biosciences has a 52-week low of $1.81 and a 52-week high of $15.05. The firm has a market capitalization of $339.71 million, a price-to-earnings ratio of -1.86 and a beta of 1.93. The company has a quick ratio of 8.94, a current ratio of 8.94 and a debt-to-equity ratio of 0.01.

Solid Biosciences (NASDAQ:SLDB) last issued its quarterly earnings data on Wednesday, March 13th. The company reported ($1.00) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.01) by $0.01. Sell-side analysts expect that Solid Biosciences will post -2.64 earnings per share for the current 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.