Solid Biosciences (NASDAQ:SLDB) Upgraded by Svb Leerink to Outperform

Svb Leerink upgraded shares of Solid Biosciences (NASDAQ:SLDB) from a market perform rating to an outperform rating in a research report sent to investors on Monday morning, BenzingaRatingsTable reports. Svb Leerink currently has $15.00 target price on the stock, up from their previous target price of $8.00. Svb Leerink also issued estimates for Solid Biosciences’ Q3 2019 earnings at ($0.58) EPS, Q4 2019 earnings at ($0.55) EPS, FY2019 earnings at ($2.68) EPS, Q1 2020 earnings at ($0.52) EPS, Q2 2020 earnings at ($0.49) EPS, Q3 2020 earnings at ($0.46) EPS, Q4 2020 earnings at ($0.40) EPS, Q4 2020 earnings at ($0.45) EPS, FY2020 earnings at ($1.85) EPS, FY2020 earnings at ($1.91) EPS, FY2021 earnings at ($1.85) EPS, FY2021 earnings at ($1.50) EPS, FY2022 earnings at ($1.46) EPS, FY2022 earnings at ($2.06) EPS, FY2023 earnings at ($1.26) EPS and FY2023 earnings at ($0.81) EPS.

Other research analysts have also issued research reports about the company. Citigroup set a $6.00 price objective on Solid Biosciences and gave the company a hold rating in a report on Thursday, May 16th. Chardan Capital upgraded Solid Biosciences from a neutral rating to a buy rating and raised their price objective for the company from $7.50 to $10.00 in a report on Friday, August 16th. Goldman Sachs Group lowered Solid Biosciences from a neutral rating to a sell rating and decreased their price objective for the company from $5.00 to $4.00 in a report on Tuesday, May 14th. ValuEngine upgraded Solid Biosciences from a hold rating to a buy rating in a report on Thursday, August 1st. Finally, Zacks Investment Research upgraded Solid Biosciences from a sell rating to a hold rating in a report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $8.21.

Shares of NASDAQ:SLDB opened at $9.03 on Monday. Solid Biosciences has a 1 year low of $4.32 and a 1 year high of $54.54. The firm has a market capitalization of $329.27 million, a price-to-earnings ratio of -4.01 and a beta of 2.07. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.73 and a quick ratio of 5.73. The business’s 50 day moving average price is $5.95 and its 200-day moving average price is $7.81.

Solid Biosciences (NASDAQ:SLDB) last announced its earnings results on Wednesday, August 14th. The company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.05. On average, sell-side analysts expect that Solid Biosciences will post -3.05 earnings per share for the current year.

In other news, Director Life Sciences Maste Perceptive acquired 2,822,581 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were bought at an average price of $4.65 per share, for a total transaction of $13,125,001.65. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 31.20% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Walleye Trading Advisors LLC purchased a new stake in Solid Biosciences in the second quarter valued at approximately $210,000. Walleye Trading LLC purchased a new stake in Solid Biosciences in the second quarter valued at approximately $214,000. Cubist Systematic Strategies LLC purchased a new stake in Solid Biosciences in the second quarter valued at approximately $70,000. AQR Capital Management LLC purchased a new stake in Solid Biosciences in the second quarter valued at approximately $255,000. Finally, EcoR1 Capital LLC purchased a new stake in Solid Biosciences in the second quarter valued at approximately $4,755,000. Institutional investors and hedge funds own 60.06% of the company’s stock.

About Solid Biosciences

Solid Biosciences Inc, a life science company, engages in identifying and developing therapies for duchenne muscular dystrophy (DMD) in the United States. The company's lead product candidate is SGT-001, an adeno-associated viral vector-mediated gene transfer, which is in a Phase I/II clinical trial to restore functional dystrophin protein expression in patients' muscles.

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Analyst Recommendations for Solid Biosciences (NASDAQ:SLDB)

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