William Blair Weighs in on Solid Biosciences Inc.’s Q3 2024 Earnings (NASDAQ:SLDB)

Solid Biosciences Inc. (NASDAQ:SLDB) – William Blair increased their Q3 2024 earnings per share estimates for Solid Biosciences in a research note issued on Wednesday, August 14th. William Blair analyst T. Lugo now expects that the company will post earnings of ($0.69) per share for the quarter, up from their prior estimate of ($0.78). The consensus estimate for Solid Biosciences’ current full-year earnings is ($2.71) per share. William Blair also issued estimates for Solid Biosciences’ Q4 2024 earnings at ($0.63) EPS, FY2024 earnings at ($2.57) EPS, Q1 2025 earnings at ($0.68) EPS, Q2 2025 earnings at ($0.71) EPS, Q3 2025 earnings at ($0.73) EPS, Q4 2025 earnings at ($0.78) EPS and FY2025 earnings at ($2.90) EPS.

Solid Biosciences (NASDAQ:SLDB) last announced its earnings results on Tuesday, August 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.05.

Several other equities analysts have also recently commented on the company. Barclays cut their price target on Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating for the company in a report on Wednesday. SVB Leerink upgraded Solid Biosciences from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a research report on Monday, June 24th. Leerink Partnrs raised shares of Solid Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 24th. HC Wainwright restated a “buy” rating and issued a $16.00 price objective on shares of Solid Biosciences in a research report on Wednesday. Finally, JPMorgan Chase & Co. raised Solid Biosciences from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $10.00 to $15.00 in a research note on Monday, July 15th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $15.67.

Solid Biosciences Price Performance

Shares of NASDAQ SLDB opened at $8.87 on Friday. Solid Biosciences has a 12 month low of $1.81 and a 12 month high of $15.05. The business’s 50 day moving average is $7.61 and its two-hundred day moving average is $9.10. The company has a quick ratio of 14.94, a current ratio of 14.94 and a debt-to-equity ratio of 0.01.

Institutional Investors Weigh In On Solid Biosciences

Institutional investors and hedge funds have recently modified their holdings of the company. RA Capital Management L.P. lifted its position in Solid Biosciences by 26.4% during the first quarter. RA Capital Management L.P. now owns 4,330,446 shares of the company’s stock worth $57,682,000 after purchasing an additional 904,160 shares during the period. Bain Capital Life Sciences Investors LLC grew its holdings in shares of 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 last quarter. Artal Group S.A. increased its position 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 in the last quarter. Janus Henderson Group PLC bought a new position in shares of Solid Biosciences in the 1st quarter valued at $23,935,000. Finally, Millennium Management LLC boosted its stake in shares of Solid Biosciences by 135.7% during the second quarter. Millennium Management LLC now owns 1,728,065 shares of the company’s stock valued at $9,798,000 after purchasing an additional 994,984 shares in the last quarter. 81.46% of the stock is owned by institutional investors.

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.