Zacks Investment Research upgraded shares of Solid Biosciences (NASDAQ:SLDB) from a hold rating to a buy rating in a research note published on Friday morning, Zacks.com reports. Zacks Investment Research currently has $3.50 target price on the stock.
According to Zacks, “Solid Biosciences LLC is a life science company. It focuses on developing therapies for Duchenne muscular dystrophy. The company is engaged in developing gene therapies, disease modifying therapies and assistive devices, all targeting the various facets of the DMD. Its product candidate includes SGT-001, a gene transfer candidate which is in Phase I/II clinical trial to restore functional dystrophin protein expression in patients’ muscles. Solid Biosciences LLC is headquartered in Cambridge, Massachusetts. “
Other analysts have also issued reports about the company. Evercore ISI assumed coverage on Solid Biosciences in a research report on Friday, October 11th. They issued an outperform rating and a $22.00 price objective for the company. Credit Suisse Group lowered their price objective on Solid Biosciences from $6.00 to $2.00 and set a hold rating for the company in a research report on Tuesday, November 12th. Citigroup lowered Solid Biosciences from a neutral rating to a sell rating and set a $6.00 price objective for the company. in a research report on Thursday, August 29th. ValuEngine upgraded Solid Biosciences from a hold rating to a buy rating in a research report on Thursday, August 1st. Finally, Leerink Swann upgraded Solid Biosciences from a market perform rating to an outperform rating in a research report on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $8.56.
SLDB stock traded up $0.04 during midday trading on Friday, reaching $3.53. The stock had a trading volume of 19,339 shares, compared to its average volume of 1,245,711. The business has a fifty day simple moving average of $9.98 and a two-hundred day simple moving average of $7.73. The company has a quick ratio of 6.78, a current ratio of 6.78 and a debt-to-equity ratio of 0.05. The firm has a market cap of $161.42 million, a price-to-earnings ratio of -1.52 and a beta of 1.90. Solid Biosciences has a twelve month low of $2.75 and a twelve month high of $34.34.
Several institutional investors have recently bought and sold shares of the company. Atria Investments LLC acquired a new position in shares of Solid Biosciences in the 2nd quarter valued at approximately $472,000. BlackRock Inc. grew its position in shares of Solid Biosciences by 10.9% in the 2nd quarter. BlackRock Inc. now owns 1,328,852 shares of the company’s stock valued at $7,640,000 after purchasing an additional 130,516 shares during the period. Vanguard Group Inc. grew its position in shares of Solid Biosciences by 11.7% in the 2nd quarter. Vanguard Group Inc. now owns 830,325 shares of the company’s stock valued at $4,774,000 after purchasing an additional 87,016 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Solid Biosciences by 35.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 87,843 shares of the company’s stock valued at $506,000 after purchasing an additional 23,118 shares during the period. Finally, Parametric Portfolio Associates LLC acquired a new position in shares of Solid Biosciences in the 2nd quarter valued at approximately $109,000. Institutional investors own 46.11% of the company’s stock.
About Solid Biosciences
Solid Biosciences Inc, a life science company, engages in identifying and developing therapies for duchenne muscular dystrophy (DMD) in the United States. The company's lead product candidate is SGT-001, an adeno-associated viral vector-mediated gene transfer, which is in a Phase I/II clinical trial to restore functional dystrophin protein expression in patients' muscles.
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