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

Chardan Capital reaffirmed their buy rating on shares of Solid Biosciences (NASDAQ:SLDB) in a report released on Friday morning,Benzinga reports. The brokerage currently has a $16.00 target price on the stock.

Other research analysts also recently issued research reports about the company. HC Wainwright reissued a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a research note on Friday, January 10th. JPMorgan Chase & Co. cut their price target on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Wedbush started coverage on Solid Biosciences in a research note on Friday, December 13th. They issued an “outperform” rating and a $16.00 price target on the stock. Truist Financial began coverage on Solid Biosciences in a research note on Wednesday, January 8th. They issued a “buy” rating and a $16.00 price target on the stock. Finally, JMP Securities began coverage on Solid Biosciences in a research note on Tuesday, December 10th. They set an “outperform” rating and a $15.00 price objective on the stock. Nine research analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $15.40.

Solid Biosciences Stock Performance

NASDAQ:SLDB opened at $5.42 on Friday. The stock’s fifty day moving average price is $4.07 and its two-hundred day moving average price is $5.56. Solid Biosciences has a 52-week low of $2.88 and a 52-week high of $15.05. The company has a market cap of $413.65 million, a price-to-earnings ratio of -1.78 and a beta of 1.98.

Hedge Funds Weigh In On Solid Biosciences

Large investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. bought a new position in Solid Biosciences during the 4th quarter worth about $34,000. The Manufacturers Life Insurance Company bought a new position in shares of Solid Biosciences in the 3rd quarter valued at about $71,000. Corton Capital Inc. bought a new position in shares of Solid Biosciences in the 4th quarter valued at about $41,000. Invesco Ltd. bought a new position in shares of Solid Biosciences in the 4th quarter valued at about $49,000. Finally, Sei Investments Co. bought a new position in shares of Solid Biosciences in the 4th quarter valued at about $52,000. Institutional investors own 81.46% of the company’s stock.

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.