Solid Biosciences (NASDAQ:SLDB) Lowered to Hold at Zacks Investment Research

Solid Biosciences (NASDAQ:SLDB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Saturday, Zacks.com reports.

According to Zacks, “Solid Biosciences LLC is a life science company. It focuses on developing therapies for Duchenne muscular dystrophy. The company is engaged in developing gene therapies, disease modifying therapies and assistive devices, all targeting the various facets of the DMD. Its product candidate includes SGT-001, a gene transfer candidate which is in Phase I/II clinical trial to restore functional dystrophin protein expression in patients’ muscles. Solid Biosciences LLC is headquartered in Cambridge, Massachusetts. “

A number of other equities analysts have also issued reports on SLDB. Chardan Capital raised Solid Biosciences from a “neutral” rating to a “buy” rating and increased their price target for the company from $7.50 to $10.00 in a research note on Friday, August 16th. Credit Suisse Group reduced their target price on Solid Biosciences from $6.00 to $2.00 and set a “hold” rating for the company in a report on Tuesday. Svb Leerink upgraded Solid Biosciences from a “market perform” rating to an “outperform” rating and increased their target price for the company from $8.00 to $15.00 in a report on Monday, August 19th. Nomura dropped their price target on shares of Solid Biosciences from $22.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Evercore ISI started coverage on shares of Solid Biosciences in a research report on Friday, October 11th. They set an “outperform” rating and a $22.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Solid Biosciences presently has an average rating of “Hold” and an average target price of $8.56.

SLDB stock opened at $3.51 on Friday. The stock has a 50-day moving average price of $10.41 and a two-hundred day moving average price of $7.82. Solid Biosciences has a 12-month low of $2.75 and a 12-month high of $35.00. The company has a current ratio of 5.73, a quick ratio of 5.73 and a debt-to-equity ratio of 0.08. The company has a market cap of $140.72 million, a PE ratio of -1.56 and a beta of 1.90.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.76) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.81) by $0.05. Equities analysts forecast that Solid Biosciences will post -2.85 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of the business. Quantamental Technologies LLC acquired a new position in Solid Biosciences in the 2nd quarter valued at about $42,000. Cubist Systematic Strategies LLC bought a new stake in shares of Solid Biosciences during the 2nd quarter worth approximately $70,000. Capital Fund Management S.A. bought a new position in Solid Biosciences in the 2nd quarter valued at approximately $107,000. Parametric Portfolio Associates LLC bought a new position in Solid Biosciences in the 2nd quarter valued at approximately $109,000. Finally, Trexquant Investment LP raised its stake in shares of Solid Biosciences by 70.4% during the second quarter. Trexquant Investment LP now owns 24,074 shares of the company’s stock valued at $138,000 after acquiring an additional 9,947 shares during the last quarter. 45.67% of the stock is currently owned by hedge funds and other institutional investors.

Solid Biosciences Company Profile

Solid Biosciences Inc, a life science company, engages in identifying and developing therapies for duchenne muscular dystrophy (DMD) in the United States. The company's lead product candidate is SGT-001, an adeno-associated viral vector-mediated gene transfer, which is in a Phase I/II clinical trial to restore functional dystrophin protein expression in patients' muscles.

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