Leerink Partnrs Expects Lower Earnings for Solid Biosciences

Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) - Equities research analysts at Leerink Partnrs cut their FY2024 earnings per share estimates for Solid Biosciences in a research report issued to clients and investors on Wednesday, November 6th. Leerink Partnrs analyst J. Schwartz now expects that the company will post earnings of ($2.86) per share for the year, down from their prior forecast of ($2.61). The consensus estimate for Solid Biosciences' current full-year earnings is ($2.75) per share. Leerink Partnrs also issued estimates for Solid Biosciences' Q4 2024 earnings at ($0.81) EPS, Q1 2025 earnings at ($0.80) EPS, Q2 2025 earnings at ($0.80) EPS, Q3 2025 earnings at ($0.80) EPS, Q4 2025 earnings at ($0.79) EPS, FY2025 earnings at ($3.19) EPS and FY2026 earnings at ($3.09) EPS.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. upgraded Solid Biosciences from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $10.00 to $15.00 in a report on Monday, July 15th. HC Wainwright restated a "buy" rating and set a $16.00 price objective on shares of Solid Biosciences in a research note on Thursday. 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. Finally, William Blair upgraded shares of Solid Biosciences to a "strong-buy" rating in a research report on Friday, August 30th. Six research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $15.67.

Solid Biosciences Stock Up 1.9 %

Shares of SLDB traded up $0.11 during trading hours on Monday, reaching $5.98. The stock had a trading volume of 148,389 shares, compared to its average volume of 342,893. The company has a market cap of $238.96 million, a P/E ratio of -1.93 and a beta of 1.92. The firm has a 50-day moving average of $6.84 and a 200 day moving average of $7.74. Solid Biosciences has a 52 week low of $2.00 and a 52 week high of $15.05.

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

Institutional Trading of Solid Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in the company. RA Capital Management L.P. grew its position in 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 during the last quarter. Bain Capital Life Sciences Investors LLC increased its position in shares of Solid Biosciences by 28.9% during the first quarter. Bain Capital Life Sciences Investors LLC now owns 4,034,582 shares of the company's stock worth $53,741,000 after buying an additional 904,160 shares during the period. Artal Group S.A. raised its position in shares of Solid Biosciences by 175.0% in the 1st quarter. Artal Group S.A. now owns 2,500,000 shares of the company's stock worth $33,300,000 after acquiring an additional 1,590,781 shares in the last quarter. Janus Henderson Group PLC acquired a new position in Solid Biosciences in the first quarter valued at approximately $23,935,000. Finally, Millennium Management LLC boosted its stake 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 acquiring an additional 994,984 shares in the last quarter. Institutional investors own 81.46% of the company's stock.

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.