FY2024 EPS Estimate for Solid Biosciences Reduced by Analyst

Solid Biosciences Inc. (NASDAQ:SLDB) – Equities research analysts at Cantor Fitzgerald decreased their FY2024 EPS estimates for Solid Biosciences in a research note issued on Monday, November 18th. Cantor Fitzgerald analyst C. Duncan now anticipates that the company will earn ($2.85) per share for the year, down from their prior forecast of ($2.54). The consensus estimate for Solid Biosciences’ current full-year earnings is ($2.81) per share.

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

Several other equities analysts have also commented on SLDB. JPMorgan Chase & Co. dropped their price target on shares of Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. HC Wainwright reiterated a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a research note on Thursday, November 7th. Chardan Capital reiterated a “buy” rating and issued a $15.00 price target on shares of Solid Biosciences in a research note on Monday, November 11th. William Blair upgraded shares of Solid Biosciences to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Barclays dropped their price target on shares of 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 analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $15.14.

Solid Biosciences Stock Up 5.4 %

Shares of NASDAQ:SLDB opened at $5.23 on Thursday. The firm’s 50 day moving average price is $6.37 and its 200 day moving average price is $7.53. The stock has a market cap of $208.99 million, a price-to-earnings ratio of -1.70 and a beta of 1.92. Solid Biosciences has a fifty-two week low of $2.44 and a fifty-two week high of $15.05.

Institutional Investors Weigh In On Solid Biosciences

Several hedge funds have recently modified their holdings of SLDB. Point72 DIFC Ltd acquired a new stake in shares of Solid Biosciences during the second quarter worth $58,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Solid Biosciences during the third quarter worth $71,000. Ground Swell Capital LLC acquired a new stake in shares of Solid Biosciences during the second quarter worth $76,000. Algert Global LLC acquired a new stake in shares of Solid Biosciences during the second quarter worth $82,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Solid Biosciences during the second quarter worth $92,000. 81.46% of the stock is 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.