FY2024 EPS Forecast for Solid Biosciences Reduced by Analyst

Solid Biosciences Inc. (NASDAQ:SLDB) – Research analysts at William Blair lowered their FY2024 EPS estimates for Solid Biosciences in a report released on Wednesday, November 6th. William Blair analyst S. Corwin now expects that the company will earn ($2.72) per share for the year, down from their prior 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.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.12).

A number of other equities research analysts have also issued reports on SLDB. JPMorgan Chase & Co. raised Solid Biosciences from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $10.00 to $15.00 in a research note on Monday, July 15th. Barclays cut their price target on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. Chardan Capital reaffirmed a “buy” rating and issued a $15.00 price target on shares of Solid Biosciences in a research note on Monday. Finally, HC Wainwright reissued a “buy” rating and issued a $16.00 price objective on shares of Solid Biosciences in a research report on Thursday, November 7th. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $15.57.

Solid Biosciences Trading Up 2.0 %

Solid Biosciences stock opened at $5.99 on Monday. The firm has a market capitalization of $239.36 million, a PE ratio of -1.97 and a beta of 1.92. Solid Biosciences has a 12-month low of $2.00 and a 12-month high of $15.05. The firm has a 50-day moving average price of $6.79 and a 200-day moving average price of $7.73.

Hedge Funds Weigh In On Solid Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the business. Point72 DIFC Ltd bought a new stake in Solid Biosciences during the 2nd quarter valued at $58,000. Ground Swell Capital LLC purchased a new position in Solid Biosciences in the second quarter valued at about $76,000. Algert Global LLC purchased a new position in Solid Biosciences in the second quarter valued at about $82,000. Susquehanna Fundamental Investments LLC bought a new position in Solid Biosciences in the second quarter worth about $92,000. Finally, Rhumbline Advisers bought a new stake in shares of Solid Biosciences in the 2nd quarter valued at about $191,000. 81.46% of the stock is currently 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.