Research Analysts Issue Forecasts for SLDB FY2024 Earnings

Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) - Stock analysts at William Blair lowered their FY2024 earnings per share estimates for shares of Solid Biosciences in a report released on Wednesday, November 6th. William Blair analyst S. Corwin now anticipates that the company will earn ($2.72) per share for the year, down from their previous forecast of ($2.57). William Blair has a "Strong-Buy" rating on the stock. The consensus estimate for Solid Biosciences' current full-year earnings is ($2.75) per share. William Blair also issued estimates for Solid Biosciences' Q4 2024 earnings at ($0.68) EPS, Q1 2025 earnings at ($0.74) EPS, Q2 2025 earnings at ($0.77) EPS, Q3 2025 earnings at ($0.75) EPS, Q4 2025 earnings at ($0.77) EPS and FY2025 earnings at ($3.02) EPS.

A number of other brokerages have also recently weighed in on SLDB. Barclays reduced their price target on Solid Biosciences from $18.00 to $15.00 and set an "overweight" rating for the company in a research report on Wednesday, August 14th. HC Wainwright restated a "buy" rating and issued a $16.00 target price on shares of Solid Biosciences in a report on Thursday. Finally, JPMorgan Chase & Co. upgraded Solid Biosciences from a "neutral" rating to an "overweight" rating and increased their price target for the company from $10.00 to $15.00 in a report on Monday, July 15th. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $15.67.

Solid Biosciences Price Performance

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

Solid Biosciences (NASDAQ:SLDB - Get Free Report) 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).

Hedge Funds Weigh In On Solid Biosciences

Several large investors have recently bought and sold shares of the stock. Point72 DIFC Ltd acquired a new position in shares of Solid Biosciences during the second quarter valued at about $58,000. Ground Swell Capital LLC bought a new stake in shares of Solid Biosciences in the 2nd quarter worth approximately $76,000. Algert Global LLC acquired a new stake in shares of Solid Biosciences during the 2nd quarter worth approximately $82,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Solid Biosciences during the second quarter valued at approximately $92,000. Finally, Rhumbline Advisers acquired a new position in shares of Solid Biosciences in the second quarter valued at $191,000. 81.46% of the stock is currently owned by institutional investors and hedge funds.

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.