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

Solid Biosciences Inc. (NASDAQ:SLDB) has been assigned an average rating of “Buy” from the twelve brokerages that are covering the company, MarketBeat reports. Eight analysts have rated the stock with a buy rating and four have issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $15.67.

A number of equities analysts have recently weighed in on the stock. Chardan Capital reissued a “buy” rating and set a $16.00 price target on shares of Solid Biosciences in a research report on Friday, March 7th. Truist Financial assumed coverage on shares of Solid Biosciences in a research report on Wednesday, January 8th. They set a “buy” rating and a $16.00 price target on the stock. JMP Securities assumed coverage on shares of Solid Biosciences in a research report on Tuesday, December 10th. They set an “outperform” rating and a $15.00 price target on the stock. Citizens Jmp raised shares of Solid Biosciences to a “strong-buy” rating in a research report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Solid Biosciences from $12.00 to $11.00 and set an “overweight” rating on the stock in a research report on Thursday.

Solid Biosciences Stock Performance

SLDB opened at $5.09 on Thursday. The company has a fifty day moving average price of $4.20 and a two-hundred day moving average price of $5.41. Solid Biosciences has a 52 week low of $2.88 and a 52 week high of $15.05. The firm has a market capitalization of $394.44 million, a PE ratio of -1.67 and a beta of 1.98.

Institutional Investors Weigh In On Solid Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLDB. Los Angeles Capital Management LLC bought a new stake in Solid Biosciences during the 3rd quarter worth about $293,000. Valence8 US LP bought a new stake in Solid Biosciences during the 3rd quarter worth about $110,000. The Manufacturers Life Insurance Company bought a new stake in Solid Biosciences during the 3rd quarter worth about $71,000. FMR LLC bought a new stake in Solid Biosciences during the 3rd quarter worth about $305,000. Finally, MetLife Investment Management LLC increased its stake in shares of Solid Biosciences by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 13,699 shares of the company’s stock worth $95,000 after purchasing an additional 7,719 shares during the last quarter. 81.46% of the stock is owned by institutional investors.

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.