Solid Biosciences (SLDB) Rating Increased to Hold at Zacks Investment Research

Solid Biosciences (NASDAQ:SLDB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “Solid Biosciences LLC is a life science company. It focuses on developing therapies for Duchenne muscular dystrophy. The company is engaged in developing gene therapies, disease modifying therapies and assistive devices, all targeting the various facets of the DMD. Its product candidate includes SGT-001, a gene transfer candidate which is in Phase I/II clinical trial to restore functional dystrophin protein expression in patients’ muscles. Solid Biosciences LLC is headquartered in Cambridge, Massachusetts. “

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. downgraded Solid Biosciences from a “neutral” rating to an “underweight” rating and set a $28.00 price objective on the stock. in a report on Thursday, March 15th. Leerink Swann cut their price objective on Solid Biosciences from $36.00 to $14.00 and set a “hold” rating on the stock in a report on Monday, April 2nd. Nomura boosted their price objective on Solid Biosciences from $37.00 to $57.00 and gave the company a “buy” rating in a report on Monday, June 25th. Chardan Capital reiterated a “buy” rating and issued a $60.00 price objective on shares of Solid Biosciences in a report on Sunday, June 24th. Finally, ValuEngine upgraded Solid Biosciences from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $46.33.

Shares of SLDB stock traded up $1.28 on Tuesday, hitting $37.63. The stock had a trading volume of 540 shares, compared to its average volume of 572,840. The company has a market capitalization of $1.26 billion and a PE ratio of -13.06. Solid Biosciences has a 1 year low of $6.83 and a 1 year high of $54.84.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings data on Thursday, May 10th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.58) by $0.04. sell-side analysts expect that Solid Biosciences will post -2.2 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of SLDB. JPMorgan Chase & Co. purchased a new stake in Solid Biosciences during the 1st quarter worth about $25,063,000. BlackRock Inc. purchased a new stake in Solid Biosciences during the 1st quarter worth about $4,794,000. Eventide Asset Management LLC purchased a new stake in Solid Biosciences during the 1st quarter worth about $3,000,000. Foresite Capital Management III LLC purchased a new stake in Solid Biosciences during the 1st quarter worth about $2,020,000. Finally, venBio Select Advisor LLC purchased a new stake in Solid Biosciences during the 1st quarter worth about $2,063,000. Institutional investors own 56.01% of the company’s stock.

Solid Biosciences Company Profile

Solid Biosciences Inc engages in identifying and developing therapies for duchenne muscular dystrophy in the United States. Its lead product candidate includes SGT-001, a gene therapy that is in Phase I/II clinical trials to restore functional dystrophin protein expression in patients' muscles. The company's product candidates also comprise SB-001, a monoclonal antibody to reduce fibrosis and inflammation.

Get a free copy of the Zacks research report on Solid Biosciences (SLDB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Solid Biosciences (NASDAQ:SLDB)

Receive News & Ratings for Solid Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Solid Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply