HC Wainwright Increases Solid Biosciences (NASDAQ:SLDB) Price Target to $20.00

Solid Biosciences (NASDAQ:SLDB) had its price objective increased by stock analysts at HC Wainwright from $16.00 to $20.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 269.00% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the stock. Truist Financial began coverage on shares of Solid Biosciences in a research report on Wednesday, January 8th. They issued a “buy” rating and a $16.00 price objective for the company. Chardan Capital reaffirmed a “buy” rating and issued a $16.00 target price on shares of Solid Biosciences in a report on Friday. Wedbush began coverage on Solid Biosciences in a report on Friday, December 13th. They set an “outperform” rating and a $16.00 price target on the stock. 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. Finally, JMP Securities began coverage on Solid Biosciences in a research report on Tuesday, December 10th. They set an “outperform” rating and a $15.00 target price for the company. Nine equities research analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $15.80.

Solid Biosciences Trading Down 1.5 %

Shares of NASDAQ:SLDB opened at $5.42 on Monday. The stock has a market cap of $413.65 million, a PE ratio of -1.78 and a beta of 1.98. The stock’s fifty day simple moving average is $4.07 and its two-hundred day simple moving average is $5.56. Solid Biosciences has a 1-year low of $2.88 and a 1-year high of $15.05.

Institutional Investors Weigh In On Solid Biosciences

Institutional investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC purchased a new position in shares of Solid Biosciences in the third quarter worth about $293,000. Valence8 US LP bought a new position in Solid Biosciences in the 3rd quarter worth approximately $110,000. The Manufacturers Life Insurance Company purchased a new position in Solid Biosciences in the 3rd quarter valued at approximately $71,000. FMR LLC bought a new stake in Solid Biosciences during the 3rd quarter valued at $305,000. Finally, MetLife Investment Management LLC lifted its position in shares of Solid Biosciences by 129.1% during the third quarter. MetLife Investment Management LLC now owns 13,699 shares of the company’s stock worth $95,000 after acquiring an additional 7,719 shares in the last quarter. 81.46% of the stock is owned by hedge funds and other 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.