Solid Biosciences (SLDB) Price Target Increased to $31.00 by Analysts at Citigroup

Solid Biosciences (NASDAQ:SLDB) had its price objective increased by Citigroup from $25.00 to $31.00 in a research report sent to investors on Monday morning, The Fly reports. Citigroup currently has a sell rating on the stock.

Several other brokerages also recently weighed in on SLDB. Credit Suisse Group began coverage on shares of Solid Biosciences in a research report on Thursday, September 6th. They set a neutral rating and a $38.00 price target for the company. Zacks Investment Research raised shares of Solid Biosciences from a sell rating to a hold rating in a research report on Thursday, August 16th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $42.56.

Shares of SLDB opened at $30.35 on Monday. The company has a market cap of $1.10 billion and a P/E ratio of -10.54. Solid Biosciences has a twelve month low of $6.83 and a twelve month high of $54.84.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings results on Tuesday, November 13th. The company reported ($0.55) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.56) by $0.01. On average, research analysts forecast that Solid Biosciences will post -2.21 EPS for the current fiscal year.

In related news, COO Pedro Alvaro Amorrortu sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $30.83, for a total value of $277,470.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ilan Ganot sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $30.84, for a total transaction of $1,542,000.00. The disclosure for this sale can be found here. Insiders have sold 81,090 shares of company stock valued at $2,501,142 in the last three months.

Hedge funds have recently modified their holdings of the stock. Partner Investment Management L.P. purchased a new stake in Solid Biosciences in the second quarter worth approximately $134,000. SG Americas Securities LLC purchased a new stake in Solid Biosciences in the third quarter worth approximately $227,000. Trexquant Investment LP purchased a new stake in Solid Biosciences in the third quarter worth approximately $341,000. American International Group Inc. boosted its holdings in Solid Biosciences by 36.3% in the third quarter. American International Group Inc. now owns 8,085 shares of the company’s stock worth $381,000 after purchasing an additional 2,154 shares during the last quarter. Finally, Matisse Capital purchased a new stake in Solid Biosciences in the third quarter worth approximately $382,000. Institutional investors own 63.59% 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.

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The Fly

Analyst Recommendations for Solid Biosciences (NASDAQ:SLDB)

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