Solid Biosciences (SLDB) Raised to Hold at Zacks Investment Research

Share on StockTwits

Zacks Investment Research upgraded shares of Solid Biosciences (NASDAQ:SLDB) from a sell rating to a hold rating in a research note issued to investors on Thursday.

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 equities analysts also recently issued reports about the stock. Nomura raised their target price on shares of Solid Biosciences from $37.00 to $57.00 and gave the company a buy rating in a report on Monday, June 25th. Chardan Capital restated a buy rating and set a $60.00 target price on shares of Solid Biosciences in a report on Sunday, June 24th. ValuEngine upgraded shares of Solid Biosciences from a sell rating to a hold rating in a report on Wednesday, May 2nd. Finally, Leerink Swann raised their target price on shares of Solid Biosciences from $28.00 to $50.00 and gave the company an outperform rating in a report on Wednesday, June 20th. One equities 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 company’s stock. The company has an average rating of Hold and a consensus price target of $46.33.

NASDAQ:SLDB opened at $39.59 on Thursday. Solid Biosciences has a twelve month low of $6.83 and a twelve month high of $54.84. The stock has a market cap of $1.35 billion and a price-to-earnings ratio of -13.75.

Solid Biosciences (NASDAQ:SLDB) last posted its earnings results on Friday, August 10th. The company reported ($0.52) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by ($0.01). equities research analysts anticipate that Solid Biosciences will post -2.2 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of SLDB. Quantitative Systematic Strategies LLC purchased a new stake in shares of Solid Biosciences during the first quarter worth about $341,000. Schwab Charles Investment Management Inc. purchased a new stake in shares of Solid Biosciences during the first quarter worth about $266,000. Birchview Capital LP purchased a new stake in shares of Solid Biosciences during the first quarter worth about $150,000. Engineers Gate Manager LP purchased a new stake in shares of Solid Biosciences during the first quarter worth about $175,000. Finally, Northern Trust Corp purchased a new stake in shares of Solid Biosciences during the first quarter worth about $689,000. Institutional investors and hedge funds own 55.46% of the company’s stock.

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.

Featured Article: Closed-End Mutual Funds (CEFs)

Get a free copy of the Zacks research report on Solid Biosciences (SLDB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Solid Biosciences (NASDAQ:SLDB)

Receive News & Ratings for Solid Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Solid Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply