Solid Biosciences Inc. to Post Q2 2024 Earnings of ($0.72) Per Share, HC Wainwright Forecasts (NASDAQ:SLDB)

Solid Biosciences Inc. (NASDAQ:SLDB) – Analysts at HC Wainwright reduced their Q2 2024 EPS estimates for Solid Biosciences in a research note issued to investors on Monday, May 20th. HC Wainwright analyst A. He now anticipates that the company will post earnings per share of ($0.72) for the quarter, down from their previous forecast of ($0.69). HC Wainwright currently has a “Buy” rating and a $16.00 price target on the stock. The consensus estimate for Solid Biosciences’ current full-year earnings is ($2.68) per share. HC Wainwright also issued estimates for Solid Biosciences’ Q4 2024 earnings at ($0.77) EPS, FY2024 earnings at ($2.87) EPS, FY2025 earnings at ($3.63) EPS, FY2026 earnings at ($3.00) EPS, FY2027 earnings at ($2.28) EPS and FY2028 earnings at ($0.88) EPS.

Several other research analysts have also recently issued reports on SLDB. Citigroup assumed coverage on Solid Biosciences in a research report on Friday, March 15th. They issued a “buy” rating and a $16.00 target price on the stock. Piper Sandler raised shares of Solid Biosciences from a “neutral” rating to an “overweight” rating and upped their target price for the company from $8.00 to $20.00 in a report on Thursday, March 14th. Barclays cut their price target on Solid Biosciences from $21.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, May 16th. Finally, William Blair reaffirmed an “outperform” rating on shares of Solid Biosciences in a research note on Thursday, March 28th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $17.50.

Solid Biosciences Trading Down 6.9 %

NASDAQ:SLDB opened at $7.81 on Wednesday. The company has a market cap of $299.74 million, a PE ratio of -1.98 and a beta of 2.02. 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 12 month low of $1.81 and a 12 month high of $15.05. The company has a 50 day simple moving average of $10.77 and a two-hundred day simple moving average of $7.99.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings results on Wednesday, March 13th. The company reported ($1.00) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.01) by $0.01.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC bought a new position in shares of Solid Biosciences during the 1st quarter valued at approximately $23,935,000. Artal Group S.A. grew its stake 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 buying an additional 1,590,781 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Solid Biosciences by 283.9% in the 1st quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock worth $16,578,000 after buying an additional 920,404 shares during the last quarter. RA Capital Management L.P. lifted its stake in shares of Solid Biosciences by 26.4% in the 1st quarter. RA Capital Management L.P. now owns 4,330,446 shares of the company’s stock valued at $57,682,000 after purchasing an additional 904,160 shares during the last quarter. Finally, Bain Capital Life Sciences Investors LLC boosted its stake in 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. 81.46% of the stock is currently 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.