Solid Biosciences’ (SLDB) “Buy” Rating Reiterated at HC Wainwright

Solid Biosciences (NASDAQ:SLDB)‘s stock had its “buy” rating restated by HC Wainwright in a research note issued on Thursday,Benzinga reports. They presently have a $16.00 price objective on the stock. HC Wainwright’s target price would suggest a potential upside of 172.57% from the company’s previous close.

Several other equities analysts have also commented on SLDB. JPMorgan Chase & Co. upgraded shares of Solid Biosciences from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $10.00 to $15.00 in a report on Monday, July 15th. William Blair upgraded shares of Solid Biosciences to a “strong-buy” rating in a report on Friday, August 30th. Finally, Barclays reduced their target price on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $15.67.

Solid Biosciences Price Performance

NASDAQ SLDB traded up $0.10 during trading hours on Thursday, hitting $5.87. 150,267 shares of the company’s stock traded hands, compared to its average volume of 343,789. Solid Biosciences has a 52-week low of $2.00 and a 52-week high of $15.05. The company has a market capitalization of $226.58 million, a PE ratio of -1.93 and a beta of 1.92. The firm’s 50-day moving average is $6.84 and its 200-day moving average is $7.76.

Solid Biosciences (NASDAQ:SLDB) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.12). Equities research analysts predict that Solid Biosciences will post -2.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Solid Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Point72 DIFC Ltd purchased a new position in shares of Solid Biosciences in the 2nd quarter valued at $58,000. Ground Swell Capital LLC purchased a new position in Solid Biosciences during the 2nd quarter worth $76,000. Algert Global LLC purchased a new position in Solid Biosciences during the 2nd quarter worth $82,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Solid Biosciences in the 2nd quarter worth $92,000. Finally, Rhumbline Advisers acquired a new stake in shares of Solid Biosciences in the 2nd quarter worth $191,000. 81.46% of the stock is currently owned by institutional investors and hedge funds.

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.