Zacks Investment Research upgraded shares of Solid Biosciences (NASDAQ:SLDB) from a hold rating to a buy rating in a research note published on Wednesday morning. They currently have $36.00 price objective on the stock.
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. “
Several other equities analysts have also weighed in on the company. Chardan Capital reaffirmed a buy rating and issued a $60.00 price objective on shares of Solid Biosciences in a research note on Sunday, June 24th. Credit Suisse Group initiated coverage on Solid Biosciences in a research note on Thursday, September 6th. They issued a neutral rating and a $38.00 price objective on the stock. Leerink Swann lifted their price objective on Solid Biosciences from $28.00 to $50.00 and gave the company an outperform rating in a research note on Wednesday, June 20th. Finally, Nomura lifted their price objective on Solid Biosciences from $37.00 to $57.00 and gave the company a buy rating in a research note on Monday, June 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $44.00.
NASDAQ SLDB opened at $34.55 on Wednesday. Solid Biosciences has a 1-year low of $6.83 and a 1-year high of $54.84.
Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings data on Friday, August 10th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.01). As a group, sell-side analysts anticipate that Solid Biosciences will post -2.21 EPS for the current year.
Large investors have recently made changes to their positions in the stock. California State Teachers Retirement System purchased a new stake in shares of Solid Biosciences during the 1st quarter valued at about $104,000. Partner Investment Management L.P. purchased a new stake in shares of Solid Biosciences during the 2nd quarter valued at about $134,000. Citadel Advisors LLC purchased a new stake in shares of Solid Biosciences during the 1st quarter valued at about $236,000. Schwab Charles Investment Management Inc. purchased a new stake in shares of Solid Biosciences during the 1st quarter valued at about $266,000. Finally, Rhumbline Advisers purchased a new stake in shares of Solid Biosciences during the 2nd quarter valued at about $306,000. Institutional investors and hedge funds own 60.13% 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.
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