Solid Biosciences Inc. (NASDAQ:SLDB) Stock Has Average Price Target of $18.79

Solid Biosciences Inc. (NASDAQ:SLDB) has earned an average rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, twelve have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $20.00.

Several analysts recently weighed in on the company. Royal Bank Of Canada began coverage on Solid Biosciences in a report on Wednesday, September 16th. They issued an “outperform” rating and a $18.00 price objective for the company. Loop Capital set a $25.00 price objective on shares of Solid Biosciences in a research note on Monday, September 14th. HC Wainwright reiterated a “buy” rating on shares of Solid Biosciences in a report on Tuesday, October 27th. UBS Group initiated coverage on shares of Solid Biosciences in a research report on Wednesday, October 14th. They set a “buy” rating and a $20.00 target price on the stock. Finally, Cantor Fitzgerald raised their target price on shares of Solid Biosciences from $16.00 to $26.00 and gave the company an “overweight” rating in a research report on Thursday, August 27th.

Solid Biosciences Stock Up 6.5%

SLDB opened at $7.02 on Tuesday. The stock’s fifty day moving average is $7.43 and its two-hundred day moving average is $7.67. The company has a market capitalization of $752.68 million, a P/E ratio of -3.92 and a beta of 2.65. Solid Biosciences has a 52 week low of $4.01 and a 52 week high of $11.45.

Solid Biosciences (NASDAQ:SLDB) last issued its earnings results on Wednesday, November 4th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.05. Equities analysts anticipate that Solid Biosciences will post -1.65 earnings per share for the current year.

Hedge Funds Weigh In On Solid Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. increased its holdings in Solid Biosciences by 32.4% during the third quarter. Russell Investments Group Ltd. now owns 63,928 shares of the company’s stock valued at $462,000 after buying an additional 15,628 shares during the period. Alps Advisors Inc. raised its stake in Solid Biosciences by 42.2% in the third quarter. Alps Advisors Inc. now owns 142,048 shares of the company’s stock worth $1,027,000 after buying an additional 42,132 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Solid Biosciences during the third quarter worth $40,000. China Universal Asset Management Co. Ltd. lifted its holdings in Solid Biosciences by 24.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 19,564 shares of the company’s stock worth $140,000 after buying an additional 3,896 shares during the period. Finally, Engineers Gate Manager LP lifted its holdings in Solid Biosciences by 34.5% during the second quarter. Engineers Gate Manager LP now owns 28,915 shares of the company’s stock worth $289,000 after buying an additional 7,410 shares during the period. 81.46% of the stock is currently owned by institutional investors.

Solid Biosciences Company Profile

Solid Biosciences Inc (NASDAQ: SLDB) is a biotechnology company focused on developing gene therapies for neuromuscular and other serious genetic diseases. The company uses adeno-associated virus (AAV) delivery technologies and genetic medicine approaches to develop treatments intended to address the underlying causes of disease.

Its lead investigational program, SGT-003, is being developed as a gene therapy for Duchenne muscular dystrophy, a severe X-linked muscle-wasting disorder. Solid Biosciences also has additional preclinical and clinical programs targeting other neuromuscular conditions, including diseases associated with defects in muscle proteins.