Solid Biosciences Inc. (NASDAQ:SLDB) Receives $17.11 Average Target Price from Analysts

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have been given a consensus rating of “Moderate Buy” by the eleven ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and ten have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $17.40.

A number of research analysts have issued reports on the stock. Wedbush dropped their target price on shares of Solid Biosciences from $17.00 to $16.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Piper Sandler reissued an “overweight” rating and set a $18.00 price target (up from $17.00) on shares of Solid Biosciences in a research note on Wednesday, May 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Solid Biosciences in a report on Friday, July 17th. HC Wainwright raised their price objective on Solid Biosciences from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. Finally, Wall Street Zen raised Solid Biosciences from a “strong sell” rating to a “sell” rating in a report on Saturday, July 4th.

Institutional Investors Weigh In On Solid Biosciences

A number of institutional investors have recently added to or reduced their stakes in the company. MetLife Investment Management LLC grew its stake in Solid Biosciences by 10.4% during the fourth quarter. MetLife Investment Management LLC now owns 33,202 shares of the company’s stock worth $187,000 after buying an additional 3,124 shares during the period. Legal & General Group Plc increased its position in shares of Solid Biosciences by 208.6% in the 2nd quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock worth $29,000 after purchasing an additional 4,063 shares during the last quarter. Intech Investment Management LLC increased its holdings in Solid Biosciences by 15.2% in the fourth quarter. Intech Investment Management LLC now owns 34,485 shares of the company’s stock valued at $194,000 after buying an additional 4,539 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Solid Biosciences by 142.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 10,211 shares of the company’s stock valued at $63,000 after acquiring an additional 5,991 shares during the last quarter. Finally, Fox Run Management L.L.C. increased its stake in Solid Biosciences by 35.1% during the fourth quarter. Fox Run Management L.L.C. now owns 25,005 shares of the company’s stock valued at $141,000 after purchasing an additional 6,491 shares during the last quarter. Hedge funds and other institutional investors own 81.46% of the company’s stock.

Solid Biosciences Stock Up 2.2%

NASDAQ:SLDB opened at $9.30 on Thursday. Solid Biosciences has a fifty-two week low of $3.79 and a fifty-two week high of $11.45. The stock has a market cap of $997.15 million, a PE ratio of -4.87 and a beta of 2.41. The firm’s fifty day simple moving average is $9.01 and its 200-day simple moving average is $7.74.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.08. Equities analysts anticipate that Solid Biosciences will post -1.72 earnings per share for the current year.

About Solid Biosciences

Solid Biosciences Inc is a clinical‐stage biotechnology company focused on the development of therapies for Duchenne muscular dystrophy (DMD), a rare genetic disorder characterized by progressive muscle degeneration. The company’s primary approach centers on gene replacement and gene editing technologies designed to restore functional dystrophin protein in patients lacking this critical muscle‐stabilizing protein.

Solid’s lead investigational therapy, SGT‐001, is a micro‐dystrophin gene therapy candidate engineered to deliver a shortened but functional form of the dystrophin gene using an adeno‐associated virus (AAV) vector.