Zacks Investment Research upgraded shares of Solid Biosciences (NASDAQ:SLDB) from a sell rating to a hold rating in a research report report published on Tuesday morning.
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. “
Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered shares of Solid Biosciences from a neutral rating to an underweight rating and set a $28.00 price target for the company. in a research note on Thursday, March 15th. Leerink Swann dropped their price target on shares of Solid Biosciences from $36.00 to $14.00 and set a hold rating for the company in a research note on Monday, April 2nd. Nomura lifted their price target on shares of Solid Biosciences from $37.00 to $57.00 and gave the stock a buy rating in a research note on Monday, June 25th. Chardan Capital restated a buy rating and issued a $60.00 price target on shares of Solid Biosciences in a research note on Sunday, June 24th. Finally, ValuEngine upgraded shares of Solid Biosciences from a sell rating to a hold rating in a research note on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Solid Biosciences presently has an average rating of Hold and an average target price of $46.33.
Shares of Solid Biosciences stock opened at $39.21 on Tuesday. The firm has a market capitalization of $1.29 billion and a PE ratio of -13.61. Solid Biosciences has a 12-month low of $6.83 and a 12-month high of $54.84.
Solid Biosciences (NASDAQ:SLDB) last issued its quarterly earnings results on Thursday, May 10th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.04. sell-side analysts expect that Solid Biosciences will post -2.2 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in SLDB. California State Teachers Retirement System acquired a new position in Solid Biosciences in the first quarter worth $104,000. Birchview Capital LP acquired a new position in Solid Biosciences in the first quarter worth $150,000. Engineers Gate Manager LP acquired a new position in Solid Biosciences in the first quarter worth $175,000. Sabby Management LLC acquired a new position in Solid Biosciences in the first quarter worth $188,000. Finally, Citadel Advisors LLC acquired a new position in Solid Biosciences in the first quarter worth $236,000. 56.01% of the stock is owned by hedge funds and other institutional investors.
About Solid Biosciences
Solid Biosciences Inc engages in identifying and developing therapies for duchenne muscular dystrophy in the United States. Its lead product candidate includes SGT-001, a gene therapy that is in Phase I/II clinical trials to restore functional dystrophin protein expression in patients' muscles. The company's product candidates also comprise SB-001, a monoclonal antibody to reduce fibrosis and inflammation.
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