Analysts Set Solid Biosciences Inc. (NASDAQ:SLDB) Target Price at $17.11

Solid Biosciences Inc. (NASDAQ:SLDB) has been given an average rating of “Moderate Buy” by the eleven ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $17.1111.

Several research firms have weighed in on SLDB. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Solid Biosciences in a research note on Friday, July 17th. Wedbush reduced their price target on shares of Solid Biosciences from $17.00 to $16.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Piper Sandler restated an “overweight” rating and set a $18.00 price target (up from $17.00) on shares of Solid Biosciences in a report on Wednesday, May 13th. Wall Street Zen raised shares of Solid Biosciences from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 4th. Finally, HC Wainwright upped their price objective on shares of Solid Biosciences from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd.

Hedge Funds Weigh In On Solid Biosciences

Several institutional investors and hedge funds have recently modified their holdings of SLDB. AQR Capital Management LLC acquired a new position in shares of Solid Biosciences in the first quarter worth $418,000. Goldman Sachs Group Inc. boosted its position in Solid Biosciences by 32.2% during the first quarter. Goldman Sachs Group Inc. now owns 180,137 shares of the company’s stock valued at $667,000 after purchasing an additional 43,910 shares during the last quarter. Woodline Partners LP acquired a new stake in Solid Biosciences during the first quarter valued at $2,338,000. Creative Planning purchased a new position in Solid Biosciences in the second quarter valued at about $57,000. Finally, JPMorgan Chase & Co. grew its stake in Solid Biosciences by 111.1% in the second quarter. JPMorgan Chase & Co. now owns 34,379 shares of the company’s stock valued at $167,000 after purchasing an additional 18,094 shares in the last quarter. 81.46% of the stock is currently owned by hedge funds and other institutional investors.

Solid Biosciences Trading Up 1.0%

Shares of SLDB stock opened at $7.97 on Friday. The company has a market capitalization of $784.65 million, a price-to-earnings ratio of -4.09 and a beta of 2.36. Solid Biosciences has a 1-year low of $3.79 and a 1-year high of $11.45. The stock’s fifty day simple moving average is $8.31 and its 200-day simple moving average is $7.39.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.12). On average, sell-side analysts predict that Solid Biosciences will post -1.9 EPS for the current year.

Solid Biosciences Company Profile

Solid Biosciences Inc is a clinical‐stage biotechnology company focused on the development of therapies for Duchenne muscular dystrophy (DMD), a rare genetic disorder characterized by progressive muscle degeneration. The company’s primary approach centers on gene replacement and gene editing technologies designed to restore functional dystrophin protein in patients lacking this critical muscle‐stabilizing protein.

Solid’s lead investigational therapy, SGT‐001, is a micro‐dystrophin gene therapy candidate engineered to deliver a shortened but functional form of the dystrophin gene using an adeno‐associated virus (AAV) vector.