HC Wainwright Reaffirms Buy Rating for Solid Biosciences (NASDAQ:SLDB)

Solid Biosciences (NASDAQ:SLDB)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $20.00 price target on the stock. HC Wainwright’s target price would indicate a potential upside of 330.11% from the company’s previous close.

A number of other research analysts have also recently issued reports on the stock. Chardan Capital cut their target price on shares of Solid Biosciences from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, May 19th. JPMorgan Chase & Co. cut 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. Piper Sandler cut their target price on shares of Solid Biosciences from $20.00 to $17.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Wedbush cut 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, May 16th. Finally, JMP Securities restated a “market outperform” rating and issued a $15.00 price objective on shares of Solid Biosciences in a research report on Friday, June 6th. Ten research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Solid Biosciences presently has an average rating of “Buy” and an average target price of $14.90.

Solid Biosciences Trading Up 0.9%

NASDAQ SLDB opened at $4.65 on Tuesday. Solid Biosciences has a 1-year low of $2.41 and a 1-year high of $10.37. The stock’s 50 day moving average is $3.38 and its two-hundred day moving average is $3.93. The company has a market capitalization of $360.42 million, a price-to-earnings ratio of -1.56 and a beta of 2.22.

Solid Biosciences (NASDAQ:SLDB) last posted 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). On average, analysts predict that Solid Biosciences will post -2.84 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. CWM LLC raised its position in shares of Solid Biosciences by 15,188.5% during the 1st quarter. CWM LLC now owns 7,950 shares of the company’s stock valued at $29,000 after acquiring an additional 7,898 shares during the last quarter. Corton Capital Inc. bought a new stake in shares of Solid Biosciences during the 4th quarter valued at $41,000. Ground Swell Capital LLC bought a new stake in shares of Solid Biosciences during the 1st quarter valued at $42,000. Invesco Ltd. bought a new stake in shares of Solid Biosciences during the 4th quarter valued at $49,000. Finally, Sei Investments Co. bought a new stake in shares of Solid Biosciences during the 4th quarter valued at $52,000. 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.