JPMorgan Chase & Co. Lowers Solid Biosciences (NASDAQ:SLDB) Price Target to $12.00

Solid Biosciences (NASDAQ:SLDB) had its price target dropped by JPMorgan Chase & Co. from $15.00 to $12.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 115.83% from the stock’s current price.

Several other analysts also recently commented on SLDB. William Blair upgraded shares of Solid Biosciences to a “strong-buy” rating in a report on Friday, August 30th. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Solid Biosciences in a research report on Thursday, November 7th. Chardan Capital reaffirmed a “buy” rating and issued a $15.00 target price on shares of Solid Biosciences in a research note on Monday. Finally, Barclays dropped their price target on Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 14th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $15.14.

Solid Biosciences Stock Up 0.9 %

Shares of SLDB stock opened at $5.56 on Tuesday. Solid Biosciences has a 12-month low of $2.10 and a 12-month high of $15.05. The firm has a fifty day moving average of $6.67 and a 200-day moving average of $7.69. The firm has a market capitalization of $222.15 million, a price-to-earnings ratio of -1.83 and a beta of 1.92.

Solid Biosciences (NASDAQ:SLDB) last posted its earnings results on Wednesday, November 6th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.12). Research analysts expect that Solid Biosciences will post -2.75 earnings per share for the current year.

Institutional Trading of Solid Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of SLDB. MetLife Investment Management LLC increased its position in shares of Solid Biosciences by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 13,699 shares of the company’s stock worth $95,000 after purchasing an additional 7,719 shares during the last quarter. FMR LLC acquired a new position in Solid Biosciences during the third quarter worth $305,000. The Manufacturers Life Insurance Company bought a new stake in Solid Biosciences during the third quarter worth $71,000. Valence8 US LP acquired a new stake in Solid Biosciences in the third quarter valued at $110,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of Solid Biosciences in the 3rd quarter valued at about $293,000. 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.