Solid Biosciences Inc. (NASDAQ:SLDB) Stock Has Consensus Price Target of $18.69 According to Analysts

Solid Biosciences Inc. (NASDAQ:SLDB) has earned an average recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and thirteen have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $18.79.

Several brokerages have recently commented on SLDB. Wall Street Zen upgraded Solid Biosciences from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 4th. Royal Bank Of Canada started coverage on Solid Biosciences in a report on Wednesday, September 16th. They set an “outperform” rating and a $18.00 target price on the stock. Truist Financial increased their price target on Solid Biosciences from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, August 21st. Loop Capital set a $25.00 price target on Solid Biosciences in a report on Monday, September 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Solid Biosciences in a research report on Thursday.

Solid Biosciences Trading Up 4.9%

Shares of NASDAQ:SLDB opened at $5.74 on Friday. Solid Biosciences has a 52-week low of $3.79 and a 52-week high of $11.45. The company has a 50-day simple moving average of $8.47 and a 200 day simple moving average of $8.20.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.08. On average, equities research analysts anticipate that Solid Biosciences will post -1.66 earnings per share for the current year.

Hedge Funds Weigh In On Solid Biosciences

Several large investors have recently modified their holdings of SLDB. Bank of New York Mellon Corp acquired a new stake in shares of Solid Biosciences during the 2nd quarter worth about $2,429,000. Dimensional Fund Advisors LP grew its stake in Solid Biosciences by 40.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 956,135 shares of the company’s stock valued at $6,877,000 after buying an additional 277,051 shares during the last quarter. Redmile Group LLC grew its stake in Solid Biosciences by 8.1% in the 1st quarter. Redmile Group LLC now owns 2,011,895 shares of the company’s stock valued at $14,486,000 after buying an additional 151,353 shares during the last quarter. Stempoint Capital LP acquired a new position in Solid Biosciences in the 1st quarter valued at about $1,407,000. Finally, Janus Henderson Group PLC bought a new position in Solid Biosciences in the 1st quarter valued at about $28,877,000. 81.46% of the stock is owned by institutional investors.

About Solid Biosciences

Solid Biosciences Inc is a biotechnology company focused on developing genetic medicines for patients with rare diseases. The company’s research platform is centered on adeno-associated virus (AAV) gene therapy and other genetic medicine technologies intended to address the underlying causes of disease.

Solid Biosciences’ lead program is SGT-003, an investigational gene therapy being developed for Duchenne muscular dystrophy, a severe inherited neuromuscular disorder. The company is also developing additional programs for rare cardiac and neuromuscular conditions, including SGT-501 for BAG3-associated dilated cardiomyopathy.