Credit Suisse Group began coverage on shares of Solid Biosciences (NASDAQ:SLDB) in a research report sent to investors on Thursday, MarketBeat.com reports. The brokerage issued a neutral rating and a $38.00 price target on the stock.
Several other research analysts have also recently issued reports on the company. Chardan Capital reaffirmed a buy rating and set a $60.00 target price on shares of Solid Biosciences in a research report on Sunday, June 24th. Zacks Investment Research raised Solid Biosciences from a sell rating to a hold rating in a research report on Thursday, August 16th. Leerink Swann boosted their price objective on Solid Biosciences from $14.00 to $28.00 and gave the stock an outperform rating in a research report on Thursday, May 10th. Finally, Nomura boosted their price objective on Solid Biosciences from $37.00 to $57.00 and gave the stock a buy rating in a research report on Monday, June 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. The company has an average rating of Hold and an average price target of $45.14.
Shares of NASDAQ:SLDB traded up $0.51 during mid-day trading on Thursday, hitting $40.16. 874 shares of the company traded hands, compared to its average volume of 122,727. The stock has a market cap of $1.56 billion and a price-to-earnings ratio of -13.95. Solid Biosciences has a 12-month low of $6.83 and a 12-month high of $54.84.
Solid Biosciences (NASDAQ:SLDB) last announced its earnings results on Friday, August 10th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by ($0.01). analysts anticipate that Solid Biosciences will post -2.21 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System purchased a new position in Solid Biosciences in the first quarter worth $104,000. Partner Investment Management L.P. purchased a new position in Solid Biosciences in the second quarter worth $134,000. Birchview Capital LP purchased a new position in Solid Biosciences in the first quarter worth $150,000. Engineers Gate Manager LP bought a new stake in shares of Solid Biosciences in the first quarter valued at $175,000. Finally, Sabby Management LLC bought a new stake in shares of Solid Biosciences in the first quarter valued at $188,000. 49.01% of the stock is currently owned by institutional investors and hedge funds.
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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