Barclays Trims Solid Biosciences (NASDAQ:SLDB) Target Price to $18.00

Solid Biosciences (NASDAQ:SLDBFree Report) had its target price decreased by Barclays from $21.00 to $18.00 in a research report released on Thursday, Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other research firms have also recently weighed in on SLDB. Piper Sandler raised shares of Solid Biosciences from a neutral rating to an overweight rating and increased their price objective for the stock from $8.00 to $20.00 in a research report on Thursday, March 14th. HC Wainwright reissued a buy rating and set a $16.00 target price on shares of Solid Biosciences in a research note on Thursday, March 14th. William Blair reissued an outperform rating on shares of Solid Biosciences in a research report on Thursday, March 28th. Finally, Citigroup started coverage on Solid Biosciences in a report on Friday, March 15th. They issued a buy rating and a $16.00 price target for the company. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of Buy and an average target price of $17.50.

Check Out Our Latest Stock Report on SLDB

Solid Biosciences Stock Performance

NASDAQ:SLDB opened at $8.95 on Thursday. The firm has a market capitalization of $343.49 million, a price-to-earnings ratio of -2.27 and a beta of 2.02. Solid Biosciences has a 1-year low of $1.81 and a 1-year high of $15.05. The company has a debt-to-equity ratio of 0.01, a current ratio of 14.94 and a quick ratio of 8.94. The company’s 50-day moving average is $11.04 and its two-hundred day moving average is $7.90.

Solid Biosciences (NASDAQ:SLDBGet Free Report) last issued its quarterly earnings data on Wednesday, March 13th. The company reported ($1.00) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.01) by $0.01. Analysts forecast that Solid Biosciences will post -2.68 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vestal Point Capital LP purchased a new stake in shares of Solid Biosciences in the fourth quarter valued at about $209,000. Vanguard Group Inc. raised its stake in Solid Biosciences by 283.9% during the 1st quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock valued at $16,578,000 after acquiring an additional 920,404 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in Solid Biosciences during the 1st quarter worth approximately $23,935,000. Artal Group S.A. grew its stake in shares of Solid Biosciences by 175.0% in the 1st quarter. Artal Group S.A. now owns 2,500,000 shares of the company’s stock valued at $33,300,000 after purchasing an additional 1,590,781 shares during the last quarter. Finally, Bain Capital Life Sciences Investors LLC increased its holdings in shares of Solid Biosciences by 28.9% in the first quarter. Bain Capital Life Sciences Investors LLC now owns 4,034,582 shares of the company’s stock valued at $53,741,000 after purchasing an additional 904,160 shares during the period. 81.46% of the stock is owned by hedge funds and other institutional investors.

About Solid Biosciences

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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.

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Analyst Recommendations for Solid Biosciences (NASDAQ:SLDB)

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