HC Wainwright Analysts Decrease Earnings Estimates for SLDB

Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) - Analysts at HC Wainwright decreased their FY2024 earnings estimates for Solid Biosciences in a report issued on Thursday, November 7th. HC Wainwright analyst A. He now forecasts that the company will post earnings per share of ($2.90) for the year, down from their prior estimate of ($2.68). HC Wainwright has a "Buy" rating and a $16.00 price target on the stock. The consensus estimate for Solid Biosciences' current full-year earnings is ($2.75) per share. HC Wainwright also issued estimates for Solid Biosciences' Q4 2024 earnings at ($0.85) EPS, Q1 2025 earnings at ($0.86) EPS, Q2 2025 earnings at ($0.87) EPS, Q3 2025 earnings at ($0.88) EPS, Q4 2025 earnings at ($0.88) EPS, FY2026 earnings at ($2.89) EPS, FY2027 earnings at ($2.31) EPS and FY2028 earnings at ($0.91) EPS.

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

Solid Biosciences Stock Performance

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

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 analysts' consensus estimates of ($0.67) by ($0.12).

Institutional Trading of Solid Biosciences

A number of institutional investors have recently made changes to their positions in the stock. Point72 DIFC Ltd bought a new position in shares of Solid Biosciences in the 2nd quarter worth approximately $58,000. Ground Swell Capital LLC bought a new position in Solid Biosciences in the second quarter worth approximately $76,000. Algert Global LLC bought a new stake in shares of Solid Biosciences during the 2nd quarter valued at $82,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Solid Biosciences during the 2nd quarter valued at $92,000. Finally, Rhumbline Advisers bought a new position in Solid Biosciences in the 2nd quarter worth $191,000. Hedge funds and other 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.