Chardan Capital Reiterates Buy Rating for Solid Biosciences (NASDAQ:SLDB)

Chardan Capital reaffirmed their buy rating on shares of Solid Biosciences (NASDAQ:SLDB) in a report released on Monday morning, AnalystRatings.com reports. They currently have a $5.00 price target on the stock, down from their previous price target of $6.75.

Other equities analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Solid Biosciences from a hold rating to a sell rating in a research report on Friday, March 20th. Nomura increased their target price on Solid Biosciences from $6.00 to $10.00 and gave the company a buy rating in a report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Solid Biosciences has an average rating of Hold and a consensus price target of $8.63.

Shares of SLDB opened at $2.65 on Monday. The firm’s 50 day moving average is $3.12 and its 200-day moving average is $6.02. The stock has a market capitalization of $123.47 million, a P/E ratio of -0.90 and a beta of 1.24. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.72 and a quick ratio of 4.72. Solid Biosciences has a 12-month low of $1.96 and a 12-month high of $13.58.

Solid Biosciences (NASDAQ:SLDB) last released its earnings results on Thursday, March 12th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.04). As a group, equities research analysts forecast that Solid Biosciences will post -2.08 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. Millennium Management LLC increased its stake in Solid Biosciences by 842.3% in the 3rd quarter. Millennium Management LLC now owns 793,006 shares of the company’s stock valued at $8,199,000 after buying an additional 708,853 shares during the period. Spark Investment Management LLC boosted its stake in shares of Solid Biosciences by 138.7% during the 4th quarter. Spark Investment Management LLC now owns 138,800 shares of the company’s stock valued at $617,000 after buying an additional 80,660 shares during the period. State Street Corp grew its holdings in shares of Solid Biosciences by 16.8% during the 4th quarter. State Street Corp now owns 348,297 shares of the company’s stock valued at $1,550,000 after acquiring an additional 50,189 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Solid Biosciences by 19.8% during the 4th quarter. Geode Capital Management LLC now owns 275,214 shares of the company’s stock valued at $1,224,000 after acquiring an additional 45,465 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Solid Biosciences by 79.7% in the fourth quarter. Renaissance Technologies LLC now owns 58,040 shares of the company’s stock worth $258,000 after acquiring an additional 25,740 shares during the last quarter. Institutional investors and hedge funds own 57.83% of the company’s stock.

About Solid Biosciences

Solid Biosciences Inc, a life science company, engages in identifying and developing therapies for duchenne muscular dystrophy (DMD) in the United States. The company's lead product candidate is SGT-001, an adeno-associated viral vector-mediated gene transfer, which is in a Phase I/II clinical trial to restore functional dystrophin protein expression in patients' muscles.

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Analyst Recommendations for Solid Biosciences (NASDAQ:SLDB)

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