Solid Biosciences (NASDAQ:SLDB) Price Target Lowered to $10.00 at Barclays

Solid Biosciences (NASDAQ:SLDB) had its target price decreased by Barclays from $15.00 to $10.00 in a report released on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other equities research analysts have also issued research reports about the stock. Wedbush decreased their target price on shares of Solid Biosciences from $18.00 to $17.00 and set an “outperform” rating for the company in a research note on Friday. JPMorgan Chase & Co. decreased their target price on shares of Solid Biosciences from $12.00 to $11.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. HC Wainwright lifted their target price on shares of Solid Biosciences from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Chardan Capital reissued a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a research note on Friday, March 7th. Finally, Cantor Fitzgerald raised shares of Solid Biosciences to a “strong-buy” rating in a research note on Tuesday. Nine investment analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Solid Biosciences currently has an average rating of “Buy” and an average price target of $14.89.

Solid Biosciences Stock Performance

Solid Biosciences stock opened at $2.77 on Friday. The company has a 50 day moving average price of $3.52 and a 200 day moving average price of $4.22. Solid Biosciences has a 52 week low of $2.41 and a 52 week high of $10.37. The firm has a market capitalization of $214.68 million, a price-to-earnings ratio of -0.91 and a beta of 2.32.

Solid Biosciences (NASDAQ:SLDB) last issued its earnings results on Thursday, May 15th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.06). Equities analysts forecast that Solid Biosciences will post -2.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC raised its holdings in Solid Biosciences by 15,188.5% in the 1st quarter. CWM LLC now owns 7,950 shares of the company’s stock worth $29,000 after acquiring an additional 7,898 shares during the period. China Universal Asset Management Co. Ltd. bought a new position in Solid Biosciences in the 4th quarter worth $34,000. Corton Capital Inc. bought a new position in shares of Solid Biosciences during the 4th quarter worth about $41,000. Ground Swell Capital LLC bought a new position in shares of Solid Biosciences during the 1st quarter worth about $42,000. Finally, Invesco Ltd. bought a new position in shares of Solid Biosciences during the 4th quarter worth about $49,000. 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.