FY2024 EPS Estimate for Solid Biosciences Lowered by Analyst

Solid Biosciences Inc. (NASDAQ:SLDB) – Research analysts at Chardan Capital decreased their FY2024 earnings per share (EPS) estimates for shares of Solid Biosciences in a research report issued on Monday, November 11th. Chardan Capital analyst Y. Livshits now forecasts that the company will earn ($2.91) per share for the year, down from their prior forecast of ($2.72). Chardan Capital currently has a “Buy” rating and a $15.00 price objective on the stock. The consensus estimate for Solid Biosciences’ current full-year earnings is ($2.75) per share. Chardan Capital also issued estimates for Solid Biosciences’ FY2025 earnings at ($2.03) EPS.

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).

SLDB has been the subject of several other research reports. Barclays dropped their price target on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th. JPMorgan Chase & Co. dropped their price objective on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Tuesday. William Blair upgraded Solid Biosciences to a “strong-buy” rating in a report on Friday, August 30th. Finally, HC Wainwright restated a “buy” rating and set a $16.00 price target on shares of Solid Biosciences in a research note on Thursday, November 7th. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $15.14.

Solid Biosciences Price Performance

Shares of SLDB stock opened at $5.31 on Thursday. The firm’s 50-day simple moving average is $6.67 and its 200-day simple moving average is $7.69. Solid Biosciences has a 1-year low of $2.21 and a 1-year high of $15.05. The firm has a market cap of $212.16 million, a P/E ratio of -1.75 and a beta of 1.92.

Institutional Investors Weigh In On Solid Biosciences

Hedge funds have recently modified their holdings of the stock. Point72 DIFC Ltd purchased a new stake in Solid Biosciences during the 2nd quarter worth $58,000. The Manufacturers Life Insurance Company acquired a new position in shares of Solid Biosciences in the third quarter worth about $71,000. Ground Swell Capital LLC purchased a new position in Solid Biosciences in the second quarter valued at about $76,000. Algert Global LLC acquired a new stake in Solid Biosciences during the 2nd quarter valued at approximately $82,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Solid Biosciences during the 2nd quarter worth approximately $92,000. 81.46% of the stock is currently owned by hedge funds and other 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.