Chardan Capital Reaffirms Buy Rating for Solid Biosciences (NASDAQ:SLDB)

Solid Biosciences (NASDAQ:SLDB)‘s stock had its “buy” rating reiterated by equities research analysts at Chardan Capital in a research report issued on Monday,Benzinga reports. They presently have a $15.00 price target on the stock. Chardan Capital’s price objective indicates a potential upside of 172.23% from the stock’s current price.

Several other brokerages also recently weighed in on SLDB. HC Wainwright reaffirmed a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a research note on Thursday, November 7th. William Blair raised shares of Solid Biosciences to a “strong-buy” rating in a report on Friday, August 30th. JPMorgan Chase & Co. raised shares of Solid Biosciences from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $10.00 to $15.00 in a research note on Monday, July 15th. Finally, Barclays lowered their price objective on Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $15.14.

Solid Biosciences Price Performance

NASDAQ:SLDB opened at $5.51 on Monday. The company has a 50 day moving average price of $6.73 and a 200-day moving average price of $7.70. Solid Biosciences has a 1-year low of $2.00 and a 1-year high of $15.05. The firm has a market cap of $220.18 million, a price-to-earnings ratio of -1.81 and a beta of 1.92.

Solid Biosciences (NASDAQ:SLDB) last issued its quarterly earnings data 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). On average, sell-side analysts anticipate that Solid Biosciences will post -2.75 earnings per share for the current fiscal year.

Institutional Trading of Solid Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Point72 DIFC Ltd purchased a new position in Solid Biosciences during the second quarter worth about $58,000. Ground Swell Capital LLC acquired a new position in shares of Solid Biosciences in the 2nd quarter worth approximately $76,000. Algert Global LLC purchased a new position in shares of Solid Biosciences during the 2nd quarter worth approximately $82,000. Susquehanna Fundamental Investments LLC acquired a new stake in Solid Biosciences in the 2nd quarter valued at approximately $92,000. Finally, Valence8 US LP purchased a new stake in Solid Biosciences in the third quarter valued at approximately $110,000. 81.46% of the stock is owned by institutional investors and hedge funds.

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.