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

HC Wainwright restated their buy rating on shares of Solid Biosciences (NASDAQ:SLDB) in a research note published on Monday morning, Benzinga reports. The brokerage currently has a $16.00 target price on the stock. HC Wainwright also issued estimates for Solid Biosciences’ Q2 2024 earnings at ($0.72) EPS, Q4 2024 earnings at ($0.77) EPS, FY2024 earnings at ($2.87) EPS, FY2025 earnings at ($3.63) EPS, FY2026 earnings at ($3.00) EPS, FY2027 earnings at ($2.28) EPS and FY2028 earnings at ($0.88) EPS.

Other analysts also recently issued reports about the company. William Blair reaffirmed an outperform rating on shares of Solid Biosciences in a research report on Thursday, March 28th. Barclays reduced their price objective on Solid Biosciences from $21.00 to $18.00 and set an overweight rating for the company in a report on Thursday, May 16th. Citigroup initiated coverage on Solid Biosciences in a report on Friday, March 15th. They set a buy rating and a $16.00 price objective for the company. Finally, Piper Sandler raised Solid Biosciences from a neutral rating to an overweight rating and increased their price objective for the company from $8.00 to $20.00 in a report on Thursday, March 14th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Solid Biosciences currently has a consensus rating of Buy and an average target price of $17.50.

Solid Biosciences Stock Performance

Shares of SLDB opened at $7.81 on Monday. The company has a current ratio of 14.94, a quick ratio of 14.94 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $299.74 million, a price-to-earnings ratio of -1.98 and a beta of 2.02. The stock has a 50 day moving average of $10.77 and a 200 day moving average of $7.99. Solid Biosciences has a 12 month low of $1.81 and a 12 month high of $15.05.

Solid Biosciences (NASDAQ:SLDB) last issued its quarterly earnings results on Wednesday, March 13th. The company reported ($1.00) EPS for the quarter, beating analysts’ consensus estimates of ($1.01) by $0.01. As a group, sell-side analysts forecast that Solid Biosciences will post -2.68 earnings per share for the current year.

Hedge Funds Weigh In On Solid Biosciences

Large investors have recently made changes to their positions in the stock. Vestal Point Capital LP bought a new position in shares of Solid Biosciences in the fourth quarter worth $209,000. Vanguard Group Inc. boosted its stake in Solid Biosciences by 283.9% during the first quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock valued at $16,578,000 after buying an additional 920,404 shares during the period. Janus Henderson Group PLC purchased a new stake in Solid Biosciences during the first quarter valued at about $23,935,000. Artal Group S.A. raised its position in Solid Biosciences by 175.0% during the first 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 in the last quarter. Finally, Bain Capital Life Sciences Investors LLC raised its position in Solid Biosciences by 28.9% during 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 in the last quarter. 81.46% of the stock is owned by institutional investors.

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.