What is Chardan Capital’s Forecast for SLDB FY2024 Earnings?

Solid Biosciences Inc. (NASDAQ:SLDB) – Equities researchers at Chardan Capital lowered their FY2024 earnings per share (EPS) estimates for shares of Solid Biosciences in a research report issued on Monday, November 11th. Chardan Capital analyst Y. Livshits now anticipates that the company will earn ($2.91) per share for the year, down from their prior forecast of ($2.72). Chardan Capital currently has a “Buy” rating and a $15.00 price target on the stock. The consensus estimate for Solid Biosciences’ current full-year earnings is ($2.75) per share. Chardan Capital also issued estimates for Solid Biosciences’ FY2025 earnings at ($2.03) EPS.

SLDB has been the subject of a number of other reports. HC Wainwright restated a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a research report on Thursday, November 7th. JPMorgan Chase & Co. decreased their target price on shares of Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a research note on Tuesday. Barclays dropped their target price on Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 14th. Finally, William Blair raised shares of Solid Biosciences to a “strong-buy” rating in a report on Friday, August 30th. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $15.14.

Solid Biosciences Stock Down 4.5 %

Shares of NASDAQ SLDB opened at $5.31 on Thursday. Solid Biosciences has a 52 week low of $2.21 and a 52 week high of $15.05. The firm has a market cap of $212.16 million, a P/E ratio of -1.75 and a beta of 1.92. The business’s 50 day moving average price is $6.67 and its 200 day moving average price is $7.69.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.12).

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC purchased a new stake in shares of Solid Biosciences in the first quarter valued at about $23,935,000. Artal Group S.A. grew its holdings in Solid Biosciences by 175.0% during the 1st quarter. Artal Group S.A. now owns 2,500,000 shares of the company’s stock valued at $33,300,000 after buying an additional 1,590,781 shares during the last quarter. Millennium Management LLC increased its position in Solid Biosciences by 135.7% during the second quarter. Millennium Management LLC now owns 1,728,065 shares of the company’s stock worth $9,798,000 after buying an additional 994,984 shares in the last quarter. Vanguard Group Inc. raised 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 worth $16,578,000 after acquiring an additional 920,404 shares during the last quarter. Finally, RA Capital Management L.P. lifted its position in shares of Solid Biosciences by 26.4% in the first quarter. RA Capital Management L.P. now owns 4,330,446 shares of the company’s stock valued at $57,682,000 after acquiring an additional 904,160 shares in the last quarter. 81.46% of the stock is currently owned by institutional investors and hedge funds.

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.