Solid Biosciences (SLDB) Stock Rating Lowered by Svb Leerink

Solid Biosciences (NASDAQ:SLDB) was downgraded by Svb Leerink from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Friday.

Several other research firms have also recently weighed in on SLDB. Citigroup initiated coverage on shares of Solid Biosciences in a report on Tuesday, November 6th. They issued a “sell” rating and a $25.00 price target on the stock. Zacks Investment Research upgraded shares of Solid Biosciences from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Wednesday, October 17th. BTIG Research initiated coverage on shares of Solid Biosciences in a report on Monday, December 10th. They issued a “neutral” rating on the stock. Chardan Capital reiterated a “buy” rating and issued a $15.00 price target on shares of Solid Biosciences in a report on Thursday. Finally, Leerink Swann cut shares of Solid Biosciences from an “outperform” rating to a “market perform” rating in a report on Thursday. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $35.00.

Get Solid Biosciences alerts:

Shares of NASDAQ SLDB opened at $7.42 on Friday. Solid Biosciences has a 52 week low of $5.97 and a 52 week high of $54.84. The firm has a market capitalization of $262.91 million and a P/E ratio of -2.58.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings results on Tuesday, November 13th. The company reported ($0.55) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.01. As a group, analysts anticipate that Solid Biosciences will post -2.21 EPS for the current year.

In other news, CEO Ilan Ganot sold 50,000 shares of the business’s stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $30.84, for a total transaction of $1,542,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Pedro Alvaro Amorrortu sold 9,000 shares of the business’s stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $30.83, for a total transaction of $277,470.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 149,240 shares of company stock worth $4,614,793.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Solid Biosciences by 56.0% during the 4th quarter. BlackRock Inc. now owns 1,214,410 shares of the company’s stock valued at $32,546,000 after buying an additional 436,161 shares in the last quarter. Partner Fund Management L.P. boosted its holdings in shares of Solid Biosciences by 70.4% during the 3rd quarter. Partner Fund Management L.P. now owns 799,777 shares of the company’s stock valued at $37,733,000 after buying an additional 330,410 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of Solid Biosciences during the 4th quarter valued at $21,109,000. Vanguard Group Inc. boosted its holdings in shares of Solid Biosciences by 82.0% during the 3rd quarter. Vanguard Group Inc. now owns 675,180 shares of the company’s stock valued at $31,855,000 after buying an additional 304,286 shares in the last quarter. Finally, Vanguard Group Inc boosted its holdings in shares of Solid Biosciences by 82.0% during the 3rd quarter. Vanguard Group Inc now owns 675,180 shares of the company’s stock valued at $31,855,000 after buying an additional 304,286 shares in the last quarter. Hedge funds and other institutional investors own 63.58% of the company’s stock.

Solid Biosciences Company Profile

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: 52-Week High/Low Prices For Stock Selection

Analyst Recommendations for Solid Biosciences (NASDAQ:SLDB)

Leave a Reply

Your email address will not be published. Required fields are marked *