Solid Biosciences’ (SLDB) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Solid Biosciences (NASDAQ:SLDB) in a report published on Monday, Benzinga reports. The brokerage currently has a $16.00 price target on the stock. HC Wainwright also issued estimates for Solid Biosciences’ Q2 2024 earnings at ($0.72) EPS, Q4 2024 earnings at ($0.77) EPS, FY2024 earnings at ($2.87) EPS, FY2025 earnings at ($3.63) EPS, FY2026 earnings at ($3.00) EPS, FY2027 earnings at ($2.28) EPS and FY2028 earnings at ($0.88) EPS.

A number of other brokerages also recently commented on SLDB. Barclays reduced their target price on shares of Solid Biosciences from $21.00 to $18.00 and set an overweight rating on the stock in a research note on Thursday, May 16th. William Blair reiterated an outperform rating on shares of Solid Biosciences in a research report on Thursday, March 28th. Citigroup began coverage on Solid Biosciences in a research report on Friday, March 15th. They issued a buy rating and a $16.00 target price on the stock. Finally, Piper Sandler raised Solid Biosciences from a neutral rating to an overweight rating and raised their price objective for the stock from $8.00 to $20.00 in a research report on Thursday, March 14th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Solid Biosciences has a consensus rating of Buy and an average price target of $17.50.

Solid Biosciences Stock Performance

NASDAQ SLDB opened at $8.39 on Monday. The stock has a market capitalization of $322.01 million, a price-to-earnings ratio of -2.13 and a beta of 2.02. Solid Biosciences has a twelve month low of $1.81 and a twelve month high of $15.05. The company has a current ratio of 14.94, a quick ratio of 14.94 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average of $10.86 and a 200 day moving average of $7.99.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings data on Wednesday, March 13th. The company reported ($1.00) EPS for the quarter, topping the consensus estimate of ($1.01) by $0.01. Sell-side analysts anticipate that Solid Biosciences will post -2.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Solid Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of SLDB. Vanguard Group Inc. grew its stake in shares of Solid Biosciences by 283.9% in the first quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock worth $16,578,000 after acquiring an additional 920,404 shares in the last quarter. Janus Henderson Group PLC purchased a new position in Solid Biosciences in the first quarter valued at $23,935,000. RA Capital Management L.P. grew its stake in Solid Biosciences by 26.4% during the 1st quarter. RA Capital Management L.P. now owns 4,330,446 shares of the company’s stock worth $57,682,000 after purchasing an additional 904,160 shares in the last quarter. Artal Group S.A. increased its holdings in Solid Biosciences by 175.0% during the 1st quarter. Artal Group S.A. now owns 2,500,000 shares of the company’s stock worth $33,300,000 after purchasing an additional 1,590,781 shares during the period. Finally, Bain Capital Life Sciences Investors LLC raised its position in Solid Biosciences by 28.9% in the 1st quarter. Bain Capital Life Sciences Investors LLC now owns 4,034,582 shares of the company’s stock valued at $53,741,000 after purchasing an additional 904,160 shares in the last quarter. 81.46% of the stock is currently owned by hedge funds and other 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.