Solid Biosciences Inc. (NASDAQ:SLDB) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have been given a consensus rating of “Buy” by the twelve brokerages that are presently covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $15.22.

Several brokerages recently weighed in on SLDB. HC Wainwright restated a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a research note on Thursday, December 12th. JMP Securities initiated coverage on shares of Solid Biosciences in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $15.00 price objective on the stock. Citizens Jmp upgraded shares of Solid Biosciences to a “strong-buy” rating in a report on Tuesday, December 10th. Wedbush began coverage on shares of Solid Biosciences in a research note on Friday, December 13th. They issued an “outperform” rating and a $16.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their price objective on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th.

Insiders Place Their Bets

In other Solid Biosciences news, COO David T. Howton sold 5,072 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total transaction of $28,403.20. Following the sale, the chief operating officer now directly owns 15,663 shares of the company’s stock, valued at approximately $87,712.80. This represents a 24.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jessie Hanrahan sold 4,610 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total transaction of $25,816.00. Following the sale, the insider now directly owns 14,235 shares of the company’s stock, valued at approximately $79,716. The trade was a 24.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,719 shares of company stock worth $135,457 over the last three months. 13.63% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Solid Biosciences

A number of large investors have recently bought and sold shares of SLDB. Millennium Management LLC raised its position in Solid Biosciences by 135.7% in the 2nd quarter. Millennium Management LLC now owns 1,728,065 shares of the company’s stock valued at $9,798,000 after purchasing an additional 994,984 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Solid Biosciences by 292.8% in the third quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company’s stock valued at $3,088,000 after buying an additional 330,234 shares during the last quarter. Marshall Wace LLP acquired a new position in Solid Biosciences during the 2nd quarter worth about $1,554,000. Renaissance Technologies LLC grew its holdings in Solid Biosciences by 303.6% during the 2nd quarter. Renaissance Technologies LLC now owns 277,564 shares of the company’s stock worth $1,574,000 after acquiring an additional 208,793 shares during the last quarter. Finally, Vestal Point Capital LP increased its position in Solid Biosciences by 5.1% in the 3rd quarter. Vestal Point Capital LP now owns 2,800,000 shares of the company’s stock valued at $19,516,000 after acquiring an additional 135,000 shares in the last quarter. 81.46% of the stock is currently owned by institutional investors.

Solid Biosciences Stock Up 6.2 %

NASDAQ:SLDB opened at $4.14 on Friday. The company’s 50 day moving average is $5.06 and its 200-day moving average is $6.69. The firm has a market cap of $165.41 million, a price-to-earnings ratio of -1.36 and a beta of 2.01. Solid Biosciences has a 12 month low of $3.85 and a 12 month high of $15.05.

Solid Biosciences (NASDAQ:SLDB) last released its earnings results on Wednesday, November 6th. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.12). Research analysts predict that Solid Biosciences will post -2.85 EPS for the current fiscal year.

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.