HC Wainwright Reiterates “Buy” Rating for Solid Biosciences (NASDAQ:SLDB)

HC Wainwright reiterated their buy rating on shares of Solid Biosciences (NASDAQ:SLDB) in a research note released on Tuesday,Benzinga reports. They currently have a $20.00 price objective on the stock.

Several other equities analysts have also recently weighed in on the company. Piper Sandler cut their price objective on Solid Biosciences from $20.00 to $17.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. JPMorgan Chase & Co. lowered their price objective on Solid Biosciences from $12.00 to $11.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Barclays lowered their price objective on Solid Biosciences from $15.00 to $10.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th. Chardan Capital decreased their price target on Solid Biosciences from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, May 19th. Finally, JMP Securities restated a “market outperform” rating and set a $15.00 price target on shares of Solid Biosciences in a research report on Friday, June 6th. Ten equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $14.90.

Solid Biosciences Price Performance

Shares of NASDAQ SLDB opened at $4.65 on Tuesday. The business’s 50-day moving average price is $3.42 and its two-hundred day moving average price is $3.92. Solid Biosciences has a one year low of $2.41 and a one year high of $10.37. The company has a market capitalization of $360.42 million, a P/E ratio of -1.56 and a beta of 2.22.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly 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). On average, equities analysts anticipate that Solid Biosciences will post -2.84 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Rhumbline Advisers grew its holdings in Solid Biosciences by 10.5% during the fourth quarter. Rhumbline Advisers now owns 43,677 shares of the company’s stock valued at $175,000 after purchasing an additional 4,161 shares during the period. American Century Companies Inc. increased its position in shares of Solid Biosciences by 12.3% in the fourth quarter. American Century Companies Inc. now owns 46,857 shares of the company’s stock valued at $187,000 after acquiring an additional 5,126 shares during the last quarter. Sei Investments Co. acquired a new stake in shares of Solid Biosciences in the fourth quarter valued at about $52,000. Prudential Financial Inc. increased its position in shares of Solid Biosciences by 71.3% in the fourth quarter. Prudential Financial Inc. now owns 109,105 shares of the company’s stock valued at $436,000 after acquiring an additional 45,400 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Solid Biosciences by 9,393.8% during the fourth quarter. JPMorgan Chase & Co. now owns 955,932 shares of the company’s stock worth $3,824,000 after purchasing an additional 945,863 shares during the period. Institutional investors and hedge funds own 81.46% of the company’s stock.

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.