Solid Biosciences (NASDAQ:SLDB) PT Lowered to $18.00

Solid Biosciences (NASDAQ:SLDB) had its target price reduced by investment analysts at Barclays from $21.00 to $18.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 95.23% from the stock’s previous close.

A number of other equities analysts have also commented on the stock. William Blair reaffirmed an “outperform” rating on shares of Solid Biosciences in a research report on Thursday, March 28th. Piper Sandler upgraded Solid Biosciences from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $8.00 to $20.00 in a research note on Thursday, March 14th. Citigroup began coverage on Solid Biosciences in a report on Friday, March 15th. They issued a “buy” rating and a $16.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a research note on Thursday, March 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $17.50.

Solid Biosciences Stock Performance

Shares of SLDB stock traded down $0.47 during midday trading on Thursday, hitting $9.22. 30,702 shares of the company were exchanged, compared to its average volume of 301,854. The firm has a market capitalization of $349.07 million, a P/E ratio of -1.91 and a beta of 2.02. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.94 and a current ratio of 8.94. Solid Biosciences has a 52 week low of $1.81 and a 52 week high of $15.05. The firm’s 50 day moving average price is $11.10 and its two-hundred day moving average price is $7.77.

Solid Biosciences (NASDAQ:SLDB) last announced its earnings results on Wednesday, March 13th. The company reported ($1.00) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.01) by $0.01. As a group, equities research analysts anticipate that Solid Biosciences will post -2.64 earnings per share for the current year.

Institutional Investors Weigh In On Solid Biosciences

Several hedge funds have recently modified their holdings of SLDB. Vestal Point Capital LP bought a new stake in Solid Biosciences in the fourth quarter valued at approximately $209,000. Vanguard Group Inc. boosted its stake in shares of 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 purchasing an additional 920,404 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Solid Biosciences during the first quarter worth $23,935,000. Finally, Bain Capital Life Sciences Investors LLC raised its stake in Solid Biosciences by 28.9% during the first quarter. Bain Capital Life Sciences Investors LLC now owns 4,034,582 shares of the company’s stock worth $53,741,000 after buying an additional 904,160 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.