Solid Biosciences Inc. (NASDAQ:SLDB) Given Average Rating of “Moderate Buy” by Analysts

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have received a consensus rating of “Moderate Buy” from the twelve brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $15.00.

A number of equities analysts recently issued reports on SLDB shares. Wall Street Zen cut Solid Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. Wedbush dropped their price target on Solid Biosciences from $17.00 to $14.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 13th. JMP Securities reaffirmed a “market outperform” rating and set a $15.00 price objective on shares of Solid Biosciences in a research note on Friday, June 6th. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of Solid Biosciences in a research report on Tuesday, June 17th. Finally, JPMorgan Chase & Co. cut their price target on shares of Solid Biosciences from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Thursday, August 14th.

Solid Biosciences Price Performance

NASDAQ SLDB opened at $5.90 on Monday. Solid Biosciences has a 12 month low of $2.41 and a 12 month high of $7.37. The company has a market capitalization of $459.43 million, a P/E ratio of -2.11 and a beta of 2.53. The company’s 50 day simple moving average is $5.89 and its 200 day simple moving average is $4.67.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.51) by $0.09. On average, analysts anticipate that Solid Biosciences will post -2.84 earnings per share for the current year.

Institutional Investors Weigh In On Solid Biosciences

A number of institutional investors have recently bought and sold shares of SLDB. Alyeska Investment Group L.P. grew its stake in Solid Biosciences by 373.7% in the first quarter. Alyeska Investment Group L.P. now owns 1,640,821 shares of the company’s stock valued at $6,071,000 after purchasing an additional 1,294,450 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Solid Biosciences by 32.2% in the first quarter. Goldman Sachs Group Inc. now owns 180,137 shares of the company’s stock valued at $667,000 after purchasing an additional 43,910 shares during the period. Bank of America Corp DE lifted its stake in shares of Solid Biosciences by 87.9% in the fourth quarter. Bank of America Corp DE now owns 83,471 shares of the company’s stock worth $334,000 after buying an additional 39,056 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in shares of Solid Biosciences during the 1st quarter worth $100,000. Finally, Knott David M Jr acquired a new stake in shares of Solid Biosciences in the first quarter valued at about $488,000. 81.46% of the stock is currently owned by institutional investors and hedge funds.

Solid Biosciences Company Profile

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.