Brokerages Set Solid Biosciences Inc. (NASDAQ:SLDB) Price Target at $15.80

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have been given an average rating of “Buy” by the twelve brokerages that are currently covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a buy recommendation and four have issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $15.67.

Several equities analysts recently issued reports on SLDB shares. Chardan Capital restated a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a research report on Friday, March 7th. JPMorgan Chase & Co. dropped their target price on Solid Biosciences from $12.00 to $11.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. HC Wainwright increased their price target on Solid Biosciences from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Wedbush began coverage on shares of Solid Biosciences in a research note on Friday, December 13th. They issued an “outperform” rating and a $16.00 price objective on the stock. Finally, JMP Securities initiated coverage on shares of Solid Biosciences in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $15.00 target price for the company.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its stake in Solid Biosciences by 9,393.8% in the 4th quarter. JPMorgan Chase & Co. now owns 955,932 shares of the company’s stock valued at $3,824,000 after purchasing an additional 945,863 shares in the last quarter. Redmile Group LLC purchased a new stake in Solid Biosciences during the fourth quarter worth $2,461,000. Point72 Asset Management L.P. grew its holdings in Solid Biosciences by 292.8% in the third quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company’s stock valued at $3,088,000 after purchasing an additional 330,234 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Solid Biosciences by 270.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 264,069 shares of the company’s stock worth $1,056,000 after buying an additional 192,714 shares in the last quarter. Finally, Trexquant Investment LP boosted its position in shares of Solid Biosciences by 256.9% in the 4th quarter. Trexquant Investment LP now owns 194,281 shares of the company’s stock worth $777,000 after buying an additional 139,851 shares in the last quarter. 81.46% of the stock is owned by hedge funds and other institutional investors.

Solid Biosciences Stock Performance

Shares of NASDAQ:SLDB opened at $4.82 on Thursday. Solid Biosciences has a one year low of $2.88 and a one year high of $15.05. The stock has a market capitalization of $373.52 million, a price-to-earnings ratio of -1.59 and a beta of 1.97. The company has a 50-day simple moving average of $4.24 and a 200-day simple moving average of $5.33.

Solid Biosciences Company Profile

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.