Analysts Set Solid Biosciences Inc. (NASDAQ:SLDB) Price Target at $15.14

Shares of Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) have been assigned an average rating of "Buy" from the nine ratings firms that are presently covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $15.14.

A number of equities research analysts have recently weighed in on the company. Chardan Capital reiterated a "buy" rating and issued a $15.00 price objective on shares of Solid Biosciences in a research report on Monday, November 11th. HC Wainwright reiterated a "buy" rating and issued a $16.00 price target on shares of Solid Biosciences in a report on Thursday, November 7th. Barclays decreased their price objective 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. William Blair raised shares of Solid Biosciences to a "strong-buy" rating in a research note on Friday, August 30th. Finally, JPMorgan Chase & Co. cut their price objective on Solid Biosciences from $15.00 to $12.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 12th.

Solid Biosciences Stock Performance

NASDAQ:SLDB traded down $0.61 during midday trading on Tuesday, reaching $5.18. 307,872 shares of the stock traded hands, compared to its average volume of 342,800. The stock has a market capitalization of $206.99 million, a P/E ratio of -1.70 and a beta of 2.01. The company has a fifty day moving average of $6.00 and a 200 day moving average of $7.24. Solid Biosciences has a 12 month low of $2.70 and a 12 month high of $15.05.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.12). On average, analysts predict that Solid Biosciences will post -2.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Solid Biosciences

Several institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC boosted its stake in Solid Biosciences by 412.1% in the 3rd quarter. Barclays PLC now owns 62,856 shares of the company's stock worth $439,000 after purchasing an additional 50,582 shares in the last quarter. XTX Topco Ltd purchased a new position in Solid Biosciences in the 3rd quarter worth approximately $121,000. Wellington Management Group LLP raised its holdings in Solid Biosciences by 183.6% in the 3rd quarter. Wellington Management Group LLP now owns 119,804 shares of the company's stock worth $835,000 after acquiring an additional 77,564 shares during the last quarter. State Street Corp lifted its position in Solid Biosciences by 9.2% in the 3rd quarter. State Street Corp now owns 441,540 shares of the company's stock valued at $3,078,000 after acquiring an additional 37,130 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in Solid Biosciences by 292.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company's stock valued at $3,088,000 after purchasing an additional 330,234 shares during the last quarter. 81.46% of the stock is currently owned by institutional investors.

About Solid Biosciences

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.