Solid Biosciences (NASDAQ:SLDB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports. The brokerage currently has a $11.00 target price on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 3.38% from the stock’s previous close.

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. “

SLDB has been the topic of a number of other research reports. ValuEngine upgraded Solid Biosciences from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Chardan Capital raised Solid Biosciences from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $7.50 to $10.00 in a report on Friday, August 16th. Leerink Swann raised Solid Biosciences from a “market perform” rating to an “outperform” rating in a report on Monday, August 19th. Citigroup downgraded Solid Biosciences from a “neutral” rating to a “sell” rating and set a $6.00 price objective on the stock. in a research report on Thursday, August 29th. Finally, Credit Suisse Group lowered Solid Biosciences from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $7.00 to $6.00 in a research note on Tuesday, May 14th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. Solid Biosciences presently has a consensus rating of “Hold” and a consensus price target of $8.67.

Shares of Solid Biosciences stock traded up $0.12 on Wednesday, hitting $10.64. The company’s stock had a trading volume of 5,828 shares, compared to its average volume of 629,619. The company has a market capitalization of $454.01 million, a P/E ratio of -4.74 and a beta of 1.82. Solid Biosciences has a 52-week low of $4.32 and a 52-week high of $54.54. The firm has a fifty day moving average price of $7.38 and a 200-day moving average price of $7.60. The company has a quick ratio of 5.73, a current ratio of 5.73 and a debt-to-equity ratio of 0.08.

Solid Biosciences (NASDAQ:SLDB) last posted its earnings results on Wednesday, August 14th. The company reported ($0.76) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.81) by $0.05. As a group, analysts expect that Solid Biosciences will post -2.85 earnings per share for the current year.

In other Solid Biosciences news, Director Life Sciences Maste Perceptive purchased 2,822,581 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was bought at an average cost of $4.65 per share, for a total transaction of $13,125,001.65. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 31.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantamental Technologies LLC purchased a new stake in Solid Biosciences in the 2nd quarter valued at about $42,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Solid Biosciences in the second quarter worth approximately $70,000. Capital Fund Management S.A. acquired a new stake in shares of Solid Biosciences in the second quarter worth approximately $107,000. Parametric Portfolio Associates LLC purchased a new stake in Solid Biosciences in the second quarter valued at approximately $109,000. Finally, Trexquant Investment LP grew its holdings in Solid Biosciences by 70.4% in the second quarter. Trexquant Investment LP now owns 24,074 shares of the company’s stock valued at $138,000 after purchasing an additional 9,947 shares during the period. Hedge funds and other institutional investors own 46.29% of the company’s stock.

Solid Biosciences Company Profile

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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