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

HC Wainwright reiterated their buy rating on shares of Solid Biosciences (NASDAQ:SLDB) in a report issued on Monday morning, Benzinga reports. The firm 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.

SLDB has been the topic of a number of other reports. Piper Sandler upgraded Solid Biosciences from a neutral rating to an overweight rating and upped their price target for the company from $8.00 to $20.00 in a research report on Thursday, March 14th. Barclays reduced their price objective on Solid Biosciences from $21.00 to $18.00 and set an overweight rating on the stock in a research note on Thursday, May 16th. Citigroup started coverage on Solid Biosciences in a research note on Friday, March 15th. They issued a buy rating and a $16.00 price objective on the stock. Finally, William Blair reissued an outperform rating on shares of Solid Biosciences in a research note on Thursday, March 28th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of Buy and a consensus price target of $17.50.

Solid Biosciences Stock Performance

Shares of NASDAQ:SLDB opened at $7.81 on Monday. The business’s fifty day moving average price is $10.77 and its two-hundred day moving average price is $7.99. Solid Biosciences has a fifty-two week low of $1.81 and a fifty-two week high of $15.05. The stock has a market capitalization of $299.74 million, a price-to-earnings ratio of -1.98 and a beta of 2.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 14.94 and a quick ratio of 14.94.

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

Hedge Funds Weigh In On Solid Biosciences

Several large investors have recently made changes to their positions in SLDB. Vestal Point Capital LP acquired a new position in shares of Solid Biosciences during the fourth quarter valued at $209,000. Vanguard Group Inc. lifted its stake in shares of 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 acquiring an additional 920,404 shares during the period. Bain Capital Life Sciences Investors LLC lifted its stake in shares of 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 acquiring an additional 904,160 shares during the period. Janus Henderson Group PLC acquired a new position in shares of Solid Biosciences during the first quarter valued at $23,935,000. Finally, Artal Group S.A. lifted its stake in shares of 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 acquiring an additional 1,590,781 shares during the period. Institutional investors and hedge funds own 81.46% of the company’s stock.

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.