Solid Biosciences (NASDAQ:SLDB) Receives “Buy” Rating from Chardan Capital

Chardan Capital reiterated their buy rating on shares of Solid Biosciences (NASDAQ:SLDB) in a research report released on Monday morning,Benzinga reports. They currently have a $15.00 target price on the stock.

Other equities analysts also recently issued research reports about the company. HC Wainwright restated a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a report on Thursday, November 7th. JPMorgan Chase & Co. upgraded Solid Biosciences from a “neutral” rating to an “overweight” rating and upped their target price for the company from $10.00 to $15.00 in a report on Monday, July 15th. Barclays decreased their target price on Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating for the company in a report on Wednesday, August 14th. Finally, William Blair upgraded Solid Biosciences to a “strong-buy” rating in a report on Friday, August 30th. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $15.14.

Solid Biosciences Stock Performance

Shares of SLDB stock opened at $5.56 on Monday. Solid Biosciences has a fifty-two week low of $2.10 and a fifty-two week high of $15.05. The stock has a 50 day moving average price of $6.67 and a two-hundred day moving average price of $7.69. The company has a market capitalization of $222.15 million, a P/E ratio of -1.83 and a beta of 1.92.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.12). As a group, equities analysts predict that Solid Biosciences will post -2.75 earnings per share for the current year.

Hedge Funds Weigh In On Solid Biosciences

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Solid Biosciences by 283.9% in the first quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock worth $16,578,000 after purchasing an additional 920,404 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Solid Biosciences in the first quarter worth $23,935,000. Acadian Asset Management LLC purchased a new stake in shares of Solid Biosciences in the second quarter worth $379,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Solid Biosciences in the second quarter worth $412,000. Finally, Millennium Management LLC grew its stake in shares of Solid Biosciences by 135.7% in the second quarter. Millennium Management LLC now owns 1,728,065 shares of the company’s stock worth $9,798,000 after acquiring an additional 994,984 shares during the last quarter. Institutional investors own 81.46% of the company’s stock.

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.