Solid Biosciences (NASDAQ:SLDB) Stock Price Expected to Rise, HC Wainwright Analyst Says

Solid Biosciences (NASDAQ:SLDB) had its price objective upped by HC Wainwright from $20.00 to $25.00 in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 279.94% from the company’s current price.

Other analysts also recently issued research reports about the company. Needham & Company LLC reissued a “buy” rating and set a $19.00 target price on shares of Solid Biosciences in a research note on Friday, March 20th. Wedbush dropped their price target on Solid Biosciences from $17.00 to $16.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. JPMorgan Chase & Co. lifted their price objective on shares of Solid Biosciences from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Wednesday, March 25th. Wall Street Zen downgraded shares of Solid Biosciences from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. Finally, Piper Sandler restated an “overweight” rating and set a $18.00 target price (up from $17.00) on shares of Solid Biosciences in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.82.

Solid Biosciences Stock Performance

Shares of Solid Biosciences stock opened at $6.58 on Wednesday. Solid Biosciences has a fifty-two week low of $3.34 and a fifty-two week high of $8.87. The company has a market capitalization of $647.80 million, a P/E ratio of -3.37 and a beta of 2.43. The company has a fifty day moving average of $7.42 and a 200 day moving average of $6.46.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.12). Analysts forecast that Solid Biosciences will post -1.81 EPS for the current year.

Hedge Funds Weigh In On Solid Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its stake in Solid Biosciences by 208.6% in the 2nd quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock worth $29,000 after acquiring an additional 4,063 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Solid Biosciences by 142.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 10,211 shares of the company’s stock valued at $63,000 after acquiring an additional 5,991 shares during the last quarter. Creative Planning purchased a new position in shares of Solid Biosciences in the second quarter valued at $57,000. Polymer Capital Management US LLC purchased a new position in shares of Solid Biosciences in the third quarter valued at $94,000. Finally, Fox Run Management L.L.C. bought a new stake in Solid Biosciences in the third quarter worth $114,000. 81.46% of the stock is owned by institutional investors.

Solid Biosciences Company Profile

Solid Biosciences Inc is a clinical?stage biotechnology company focused on the development of therapies for Duchenne muscular dystrophy (DMD), a rare genetic disorder characterized by progressive muscle degeneration. The company’s primary approach centers on gene replacement and gene editing technologies designed to restore functional dystrophin protein in patients lacking this critical muscle?stabilizing protein.

Solid’s lead investigational therapy, SGT?001, is a micro?dystrophin gene therapy candidate engineered to deliver a shortened but functional form of the dystrophin gene using an adeno?associated virus (AAV) vector.