Piper Sandler Cuts Solid Biosciences (NASDAQ:SLDB) Price Target to $17.00

Solid Biosciences (NASDAQ:SLDB) had its price objective trimmed by Piper Sandler from $20.00 to $17.00 in a research report sent to investors on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other analysts have also issued reports on the company. Wedbush dropped their price objective on Solid Biosciences from $18.00 to $17.00 and set an “outperform” rating on the stock in a research note on Friday. Barclays dropped their price objective on Solid Biosciences from $15.00 to $10.00 and set an “overweight” rating on the stock in a research note on Friday. Cantor Fitzgerald upgraded Solid Biosciences to a “strong-buy” rating in a research note on Tuesday, May 13th. Chardan Capital restated a “buy” rating and issued a $16.00 price objective on shares of Solid Biosciences in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. decreased their target price on Solid Biosciences from $12.00 to $11.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Nine analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, Solid Biosciences presently has an average rating of “Buy” and a consensus price target of $14.89.

Solid Biosciences Stock Performance

SLDB opened at $2.77 on Friday. The business’s 50-day simple moving average is $3.52 and its 200 day simple moving average is $4.20. The firm has a market capitalization of $214.68 million, a PE ratio of -0.91 and a beta of 2.32. Solid Biosciences has a 52-week low of $2.41 and a 52-week high of $10.37.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings data on Thursday, May 15th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.06). On average, research analysts forecast that Solid Biosciences will post -2.84 earnings per share for the current year.

Institutional Investors Weigh In On Solid Biosciences

Large investors have recently added to or reduced their stakes in the stock. CWM LLC grew its position in Solid Biosciences by 15,188.5% during the first quarter. CWM LLC now owns 7,950 shares of the company’s stock worth $29,000 after buying an additional 7,898 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in Solid Biosciences during the fourth quarter worth approximately $34,000. Corton Capital Inc. acquired a new stake in Solid Biosciences during the fourth quarter worth approximately $41,000. Ground Swell Capital LLC acquired a new stake in Solid Biosciences during the first quarter worth approximately $42,000. Finally, Invesco Ltd. acquired a new stake in Solid Biosciences during the fourth quarter worth approximately $49,000. Institutional investors and hedge funds own 81.46% of the company’s stock.

About Solid Biosciences

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.