Solid Biosciences (NASDAQ:SLDB) Upgraded at JPMorgan Chase & Co.

Solid Biosciences (NASDAQ:SLDB) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Monday, Briefing.com reports. The firm currently has a $15.00 price target on the stock, up from their previous price target of $10.00. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 89.63% from the company’s previous close.

Several other analysts have also commented on SLDB. SVB Leerink raised Solid Biosciences from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a report on Monday, June 24th. Piper Sandler reaffirmed an “overweight” rating and set a $20.00 price objective on shares of Solid Biosciences in a research note on Friday, June 21st. Barclays cut their price target on shares of Solid Biosciences from $21.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, May 16th. William Blair reiterated an “outperform” rating on shares of Solid Biosciences in a report on Thursday, March 28th. Finally, HC Wainwright reissued a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a research note on Monday, May 20th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Solid Biosciences presently has a consensus rating of “Buy” and an average target price of $16.17.

Solid Biosciences Price Performance

Shares of NASDAQ:SLDB opened at $7.91 on Monday. Solid Biosciences has a twelve month low of $1.81 and a twelve month high of $15.05. The company has a current ratio of 14.94, a quick ratio of 14.94 and a debt-to-equity ratio of 0.01. The company has a market cap of $303.59 million, a PE ratio of -2.01 and a beta of 1.85. The company’s 50 day moving average is $7.77 and its 200 day moving average is $8.92.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings data on Wednesday, May 15th. The company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). On average, sell-side analysts forecast that Solid Biosciences will post -2.64 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vestal Point Capital LP acquired a new position in shares of Solid Biosciences during the 4th quarter worth $209,000. Vanguard Group Inc. boosted its stake in shares of Solid Biosciences by 283.9% during the 1st quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock worth $16,578,000 after acquiring an additional 920,404 shares in the last quarter. Janus Henderson Group PLC purchased a new position in Solid Biosciences in the 1st quarter valued at approximately $23,935,000. Artal Group S.A. boosted its position in Solid Biosciences by 175.0% during the first quarter. Artal Group S.A. now owns 2,500,000 shares of the company’s stock worth $33,300,000 after purchasing an additional 1,590,781 shares in the last quarter. Finally, Bain Capital Life Sciences Investors LLC grew its holdings in Solid Biosciences by 28.9% in the first quarter. Bain Capital Life Sciences Investors LLC now owns 4,034,582 shares of the company’s stock valued at $53,741,000 after purchasing an additional 904,160 shares during the last quarter. Institutional investors and hedge funds own 81.46% of the company’s stock.

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.