Solid Biosciences Inc. (NASDAQ:SLDB – Get Free Report) has earned a consensus rating of “Moderate Buy” from the thirteen research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation and twelve have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $18.69.
A number of research firms have recently weighed in on SLDB. Cantor Fitzgerald upped their target price on shares of Solid Biosciences from $16.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday, August 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Biosciences in a report on Friday, July 17th. Loop Capital set a $25.00 price target on shares of Solid Biosciences in a research note on Monday, September 14th. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Solid Biosciences in a report on Monday, September 14th. Finally, Royal Bank Of Canada assumed coverage on shares of Solid Biosciences in a research report on Wednesday, September 16th. They set an “outperform” rating and a $18.00 target price for the company.
Read Our Latest Research Report on Solid Biosciences
Solid Biosciences Price Performance
Solid Biosciences (NASDAQ:SLDB – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.08. On average, analysts expect that Solid Biosciences will post -1.66 EPS for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. Perceptive Advisors LLC grew its stake in shares of Solid Biosciences by 0.6% during the 1st quarter. Perceptive Advisors LLC now owns 11,906,646 shares of the company’s stock valued at $85,728,000 after acquiring an additional 73,107 shares during the period. Janus Henderson Group PLC bought a new stake in Solid Biosciences during the 1st quarter worth approximately $28,877,000. Armistice Capital LLC raised its stake in Solid Biosciences by 179.1% during the 4th quarter. Armistice Capital LLC now owns 2,612,000 shares of the company’s stock worth $14,732,000 after acquiring an additional 1,676,000 shares during the period. Redmile Group LLC raised its stake in Solid Biosciences by 8.1% during the 1st quarter. Redmile Group LLC now owns 2,011,895 shares of the company’s stock worth $14,486,000 after acquiring an additional 151,353 shares during the period. Finally, Monashee Investment Management LLC lifted its holdings in Solid Biosciences by 5.2% during the first quarter. Monashee Investment Management LLC now owns 1,420,295 shares of the company’s stock valued at $10,226,000 after purchasing an additional 70,524 shares in the last quarter. 81.46% of the stock is owned by hedge funds and other institutional investors.
About Solid Biosciences
Solid Biosciences Inc is a biotechnology company focused on developing genetic medicines for patients with rare diseases. The company’s research platform is centered on adeno-associated virus (AAV) gene therapy and other genetic medicine technologies intended to address the underlying causes of disease.
Solid Biosciences’ lead program is SGT-003, an investigational gene therapy being developed for Duchenne muscular dystrophy, a severe inherited neuromuscular disorder. The company is also developing additional programs for rare cardiac and neuromuscular conditions, including SGT-501 for BAG3-associated dilated cardiomyopathy.
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