Q2 2024 EPS Estimates for Solid Biosciences Inc. Increased by Analyst (NASDAQ:SLDB)

Solid Biosciences Inc. (NASDAQ:SLDB) – Investment analysts at Leerink Partnrs boosted their Q2 2024 EPS estimates for shares of Solid Biosciences in a research note issued on Monday, June 24th. Leerink Partnrs analyst J. Schwartz now forecasts that the company will earn ($0.55) per share for the quarter, up from their prior forecast of ($0.56). Leerink Partnrs has a “Strong-Buy” rating on the stock. The consensus estimate for Solid Biosciences’ current full-year earnings is ($2.64) per share. Leerink Partnrs also issued estimates for Solid Biosciences’ Q3 2024 earnings at ($0.55) EPS, Q4 2024 earnings at ($0.55) EPS, FY2024 earnings at ($2.29) EPS and FY2025 earnings at ($2.38) EPS.

Solid Biosciences (NASDAQ:SLDB) last issued its quarterly earnings results on Wednesday, May 15th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.07).

Several other brokerages have also recently commented on SLDB. JPMorgan Chase & Co. reduced their target price on Solid Biosciences from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. Barclays cut their price target on shares of Solid Biosciences from $21.00 to $18.00 and set an “overweight” rating for the company in a research note on Thursday, May 16th. William Blair reiterated an “outperform” rating on shares of Solid Biosciences in a research note on Thursday, March 28th. HC Wainwright restated a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a research report on Monday, May 20th. Finally, SVB Leerink upgraded shares of Solid Biosciences from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a research note on Monday. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $15.33.

Solid Biosciences Price Performance

Shares of NASDAQ:SLDB opened at $5.74 on Wednesday. The firm has a market capitalization of $220.30 million, a PE ratio of -1.46 and a beta of 1.87. The company has a current ratio of 14.94, a quick ratio of 14.94 and a debt-to-equity ratio of 0.01. Solid Biosciences has a 1-year low of $1.81 and a 1-year high of $15.05. The business’s 50 day moving average is $8.34 and its 200-day moving average is $8.75.

Hedge Funds Weigh In On Solid Biosciences

A number of institutional investors have recently modified their holdings of SLDB. Vestal Point Capital LP acquired a new position in Solid Biosciences during the 4th quarter worth $209,000. Vanguard Group Inc. boosted its holdings in Solid Biosciences by 283.9% in the first quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock valued at $16,578,000 after acquiring an additional 920,404 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in Solid Biosciences in the first quarter worth about $23,935,000. Artal Group S.A. raised 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 worth $33,300,000 after purchasing an additional 1,590,781 shares during the last quarter. Finally, Bain Capital Life Sciences Investors LLC lifted its position in Solid Biosciences by 28.9% during the 1st quarter. Bain Capital Life Sciences Investors LLC now owns 4,034,582 shares of the company’s stock valued at $53,741,000 after purchasing an additional 904,160 shares during the period. 81.46% of the stock is owned by institutional investors.

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.