HC Wainwright Cuts Earnings Estimates for Solid Biosciences

Solid Biosciences Inc. (NASDAQ:SLDB) – Stock analysts at HC Wainwright reduced their FY2024 EPS estimates for Solid Biosciences in a research note issued to investors on Thursday, November 7th. HC Wainwright analyst A. He now anticipates that the company will post earnings of ($2.90) per share for the year, down from their prior estimate of ($2.68). HC Wainwright has a “Buy” rating and a $16.00 price target on the stock. The consensus estimate for Solid Biosciences’ current full-year earnings is ($2.75) per share. HC Wainwright also issued estimates for Solid Biosciences’ Q4 2024 earnings at ($0.85) EPS, Q1 2025 earnings at ($0.86) EPS, Q2 2025 earnings at ($0.87) EPS, Q3 2025 earnings at ($0.88) EPS, Q4 2025 earnings at ($0.88) EPS, FY2026 earnings at ($2.89) EPS, FY2027 earnings at ($2.31) EPS and FY2028 earnings at ($0.91) EPS.

A number of other research analysts have also commented on SLDB. Chardan Capital restated a “buy” rating and issued a $15.00 target price on shares of Solid Biosciences in a research note on Monday. William Blair upgraded shares of Solid Biosciences to a “strong-buy” rating in a research note on Friday, August 30th. Barclays decreased their target price on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. raised shares of Solid Biosciences from a “neutral” rating to an “overweight” rating and upped their target price for the company from $10.00 to $15.00 in a research note on Monday, July 15th. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $15.57.

Solid Biosciences Stock Up 2.0 %

Solid Biosciences stock opened at $5.99 on Monday. The business has a 50 day moving average price of $6.79 and a two-hundred day moving average price of $7.73. Solid Biosciences has a 12 month low of $2.00 and a 12 month high of $15.05. The stock has a market cap of $239.36 million, a price-to-earnings ratio of -1.97 and a beta of 1.92.

Solid Biosciences (NASDAQ:SLDB) last released its 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).

Institutional Investors Weigh In On Solid Biosciences

Hedge funds have recently made changes to their positions in the company. Point72 DIFC Ltd acquired a new position in Solid Biosciences in the second quarter valued at about $58,000. Ground Swell Capital LLC bought a new position in shares of Solid Biosciences in the second quarter valued at approximately $76,000. Algert Global LLC bought a new position in shares of Solid Biosciences in the second quarter valued at approximately $82,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Solid Biosciences in the 2nd quarter worth approximately $92,000. Finally, Quantum Private Wealth LLC bought a new stake in Solid Biosciences during the 3rd quarter worth approximately $220,000. Institutional investors and hedge funds own 81.46% of the company’s stock.

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.