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

HC Wainwright reaffirmed their buy rating on shares of Solid Biosciences (NASDAQ:SLDB) in a research report report published on Thursday morning,Benzinga reports. They currently have a $16.00 target price on the stock.

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

Solid Biosciences Stock Performance

Shares of Solid Biosciences stock opened at $5.87 on Thursday. The firm has a fifty day simple moving average of $6.84 and a 200-day simple moving average of $7.75. Solid Biosciences has a 1-year low of $2.00 and a 1-year 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). Equities research analysts anticipate that Solid Biosciences will post -2.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Solid Biosciences

A number of institutional investors have recently bought and sold shares of the business. Point72 DIFC Ltd bought a new position in shares of Solid Biosciences during the 2nd quarter worth about $58,000. Ground Swell Capital LLC bought a new position in Solid Biosciences during the second quarter worth about $76,000. Algert Global LLC bought a new position in Solid Biosciences during the second quarter worth about $82,000. Susquehanna Fundamental Investments LLC acquired a new stake in Solid Biosciences during the second quarter valued at approximately $92,000. Finally, Rhumbline Advisers bought a new stake in shares of Solid Biosciences in the 2nd quarter valued at approximately $191,000. 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.