Solid Biosciences (NASDAQ:SLDB) Rating Increased to Outperform at SVB Leerink

Solid Biosciences (NASDAQ:SLDB) was upgraded by research analysts at SVB Leerink from a “market perform” rating to an “outperform” rating in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage presently has a $12.00 target price on the stock. SVB Leerink’s target price points to a potential upside of 106.90% from the company’s current price.

SLDB has been the subject of a number of other research reports. Barclays decreased their price objective on shares of Solid Biosciences from $21.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, May 16th. Piper Sandler reiterated an “overweight” rating and issued a $20.00 price objective on shares of Solid Biosciences in a research report on Friday, June 21st. William Blair reiterated an “outperform” rating on shares of Solid Biosciences in a research report on Thursday, March 28th. JPMorgan Chase & Co. decreased their price objective on shares of Solid Biosciences from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. Finally, Citigroup started coverage on shares of Solid Biosciences in a research report on Friday, March 15th. They issued a “buy” rating and a $16.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Solid Biosciences currently has an average rating of “Buy” and a consensus price target of $15.33.

Solid Biosciences Price Performance

NASDAQ:SLDB opened at $5.80 on Monday. Solid Biosciences has a one year low of $1.81 and a one year high of $15.05. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.94 and a current ratio of 14.94. The firm has a market cap of $222.60 million, a price-to-earnings ratio of -1.47 and a beta of 1.87. The firm’s fifty day moving average is $8.50 and its two-hundred day moving average is $8.79.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings results on Wednesday, May 15th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.07). Research analysts expect that Solid Biosciences will post -2.65 EPS for the current year.

Institutional Trading of Solid Biosciences

A number of hedge funds have recently bought and sold shares of the business. RA Capital Management L.P. raised its holdings in Solid Biosciences by 26.4% in the 1st quarter. RA Capital Management L.P. now owns 4,330,446 shares of the company’s stock valued at $57,682,000 after acquiring an additional 904,160 shares during the last quarter. Bain Capital Life Sciences Investors LLC raised its holdings in Solid Biosciences by 28.9% in the 1st quarter. Bain Capital Life Sciences Investors LLC now owns 4,034,582 shares of the company’s stock valued at $53,741,000 after acquiring an additional 904,160 shares during the last quarter. Artal Group S.A. raised its holdings in Solid Biosciences by 175.0% in the 1st quarter. Artal Group S.A. now owns 2,500,000 shares of the company’s stock valued at $33,300,000 after acquiring an additional 1,590,781 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in Solid Biosciences in the 1st quarter valued at about $23,935,000. Finally, Vanguard Group Inc. raised its holdings in Solid Biosciences by 283.9% in the 1st quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock valued at $16,578,000 after acquiring an additional 920,404 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.