JPMorgan Chase & Co. upgraded shares of Solid Biosciences (NASDAQ:SLDB – Free Report) from a neutral rating to an overweight rating in a research report sent to investors on Monday morning, Marketbeat Ratings reports. They currently have $15.00 price objective on the stock, up from their prior price objective of $10.00.
SLDB has been the topic of a number of other reports. Barclays lowered their price target on shares of Solid Biosciences from $21.00 to $18.00 and set an overweight rating on the stock in a research note on Thursday, May 16th. Leerink Partnrs upgraded shares of Solid Biosciences from a hold rating to a strong-buy rating in a research report on Monday, June 24th. Piper Sandler reiterated an overweight rating and set a $20.00 price target on shares of Solid Biosciences in a research report on Friday, June 21st. William Blair reissued an outperform rating on shares of Solid Biosciences in a research note on Thursday, March 28th. Finally, HC Wainwright reaffirmed a buy rating and issued a $16.00 price objective on shares of Solid Biosciences in a research note on Monday, May 20th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Solid Biosciences has an average rating of Buy and an average price target of $16.17.
Read Our Latest Report on SLDB
Solid Biosciences Price Performance
Solid Biosciences (NASDAQ:SLDB – Get Free Report) last posted its quarterly earnings data on Wednesday, May 15th. The company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). On average, analysts predict that Solid Biosciences will post -2.64 EPS for the current year.
Institutional Investors Weigh In On Solid Biosciences
A number of hedge funds have recently made changes to their positions in SLDB. Vestal Point Capital LP bought a new position in Solid Biosciences in the 4th quarter valued at about $209,000. Vanguard Group Inc. boosted its holdings in shares of Solid Biosciences by 283.9% in 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 in the last quarter. Bain Capital Life Sciences Investors LLC boosted its holdings in shares of Solid Biosciences by 28.9% in 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 in the last quarter. Janus Henderson Group PLC acquired a new position in shares of Solid Biosciences during the first quarter valued at approximately $23,935,000. Finally, Artal Group S.A. raised its holdings 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 worth $33,300,000 after purchasing an additional 1,590,781 shares in the last quarter. Institutional investors own 81.46% of the company’s stock.
About Solid Biosciences
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.
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