Solid Biosciences’ (SLDB) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Solid Biosciences (NASDAQ:SLDBFree Report) in a research note released on Friday, Benzinga reports. Piper Sandler currently has a $20.00 price objective on the stock.

A number of other analysts have also commented on the company. HC Wainwright reiterated a buy rating and set a $16.00 price target on shares of Solid Biosciences in a report on Monday, May 20th. William Blair restated an outperform rating on shares of Solid Biosciences in a research note on Thursday, March 28th. Barclays lowered their target price on Solid Biosciences from $21.00 to $18.00 and set an overweight rating on the stock in a research note on Thursday, May 16th. Citigroup assumed coverage on Solid Biosciences in a research note on Friday, March 15th. They issued a buy rating and a $16.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered their target price on Solid Biosciences from $12.00 to $10.00 and set a neutral rating on the stock in a research note on Friday, May 31st. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $16.00.

Check Out Our Latest Stock Analysis on SLDB

Solid Biosciences Stock Performance

Shares of Solid Biosciences stock opened at $6.46 on Friday. The business’s fifty day simple moving average is $8.65 and its 200 day simple moving average is $8.78. The firm has a market capitalization of $247.93 million, a P/E ratio of -1.64 and a beta of 1.87. Solid Biosciences has a 12 month low of $1.81 and a 12 month high of $15.05. The company has a current ratio of 14.94, a quick ratio of 14.94 and a debt-to-equity ratio of 0.01.

Solid Biosciences (NASDAQ:SLDBGet Free Report) last issued its quarterly earnings results on Wednesday, May 15th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). As a group, analysts anticipate that Solid Biosciences will post -2.65 EPS for the current year.

Hedge Funds Weigh In On Solid Biosciences

Several hedge funds have recently made changes to their positions in the stock. Vestal Point Capital LP purchased a new position in shares of Solid Biosciences in the fourth quarter valued at $209,000. Bain Capital Life Sciences Investors LLC grew its position in shares of Solid Biosciences by 28.9% in the first quarter. Bain Capital Life Sciences Investors LLC now owns 4,034,582 shares of the company’s stock valued at $53,741,000 after purchasing an additional 904,160 shares in the last quarter. RA Capital Management L.P. grew its position in shares of Solid Biosciences by 26.4% in the first quarter. RA Capital Management L.P. now owns 4,330,446 shares of the company’s stock valued at $57,682,000 after purchasing an additional 904,160 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Solid Biosciences by 283.9% in the first quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock valued at $16,578,000 after purchasing an additional 920,404 shares in the last quarter. Finally, Artal Group S.A. grew its position in shares of Solid Biosciences by 175.0% in the first quarter. Artal Group S.A. now owns 2,500,000 shares of the company’s stock valued at $33,300,000 after purchasing an additional 1,590,781 shares in the last quarter. 81.46% of the stock is currently owned by hedge funds and other institutional investors.

Solid Biosciences Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Solid Biosciences (NASDAQ:SLDB)

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