Solid Biosciences Inc. (NASDAQ:SLDB) Given Average Recommendation of “Buy” by Analysts

Solid Biosciences Inc. (NASDAQ:SLDB) has received a consensus recommendation of “Buy” from the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $15.14.

A number of research firms have recently weighed in on SLDB. Chardan Capital reaffirmed a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a research note on Monday. Barclays cut their price objective on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 14th. William Blair raised shares of Solid Biosciences to a “strong-buy” rating in a research report on Friday, August 30th. HC Wainwright restated a “buy” rating and set a $16.00 price target on shares of Solid Biosciences in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Tuesday.

Institutional Investors Weigh In On Solid Biosciences

A number of hedge funds have recently bought and sold shares of the company. Point72 DIFC Ltd acquired a new position in Solid Biosciences during the 2nd quarter valued at $58,000. Ground Swell Capital LLC bought a new position in shares of Solid Biosciences during the 2nd quarter worth about $76,000. Algert Global LLC acquired a new position in shares of Solid Biosciences during the second quarter valued at about $82,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Solid Biosciences in the second quarter valued at about $92,000. Finally, Valence8 US LP acquired a new stake in Solid Biosciences during the third quarter worth about $110,000. 81.46% of the stock is currently owned by institutional investors.

Solid Biosciences Trading Down 8.0 %

Shares of SLDB stock opened at $5.51 on Friday. The company has a market capitalization of $220.18 million, a price-to-earnings ratio of -1.81 and a beta of 1.92. Solid Biosciences has a 1-year low of $2.00 and a 1-year high of $15.05. The stock’s fifty day simple moving average is $6.73 and its 200-day simple moving average is $7.70.

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

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.