Solid Biosciences Inc. (NASDAQ:SLDB) Receives $15.67 Consensus Target Price from Brokerages

Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) has received an average rating of "Buy" from the eight research firms that are covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $15.67.

Several equities research analysts recently issued reports on SLDB shares. JPMorgan Chase & Co. upgraded Solid Biosciences from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $10.00 to $15.00 in a report on Monday, July 15th. Barclays lowered their target price on shares of Solid Biosciences from $18.00 to $15.00 and set an "overweight" rating for the company in a report on Wednesday, August 14th. HC Wainwright restated a "buy" rating and set a $16.00 price target on shares of Solid Biosciences in a report on Thursday. Finally, William Blair raised Solid Biosciences to a "strong-buy" rating in a report on Friday, August 30th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SLDB. Point72 DIFC Ltd purchased a new stake in shares of Solid Biosciences during the 2nd quarter valued at approximately $58,000. Ground Swell Capital LLC purchased a new stake in shares of Solid Biosciences during the second quarter worth $76,000. Algert Global LLC bought a new position in shares of Solid Biosciences in the second quarter worth $82,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Solid Biosciences in the second quarter valued at $92,000. Finally, Quantum Private Wealth LLC bought a new stake in shares of Solid Biosciences during the 3rd quarter valued at $220,000. Hedge funds and other institutional investors own 81.46% of the company's stock.

Solid Biosciences Stock Up 1.7 %

Shares of NASDAQ SLDB traded up $0.10 during mid-day trading on Friday, reaching $5.87. 150,257 shares of the company's stock traded hands, compared to its average volume of 343,789. The business has a 50-day simple moving average of $6.91 and a 200 day simple moving average of $7.78. Solid Biosciences has a 1-year low of $2.00 and a 1-year high of $15.05.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.67) by ($0.12). On average, equities research analysts forecast that Solid Biosciences will post -2.61 EPS for the current fiscal year.

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.