Leerink Partnrs Equities Analysts Increase Earnings Estimates for Solid Biosciences Inc. (NASDAQ:SLDB)

Solid Biosciences Inc. (NASDAQ:SLDB) – Leerink Partnrs boosted their Q2 2024 earnings per share estimates for Solid Biosciences in a research note issued on Monday, June 24th. Leerink Partnrs analyst J. Schwartz now expects that the company will earn ($0.55) per share for the quarter, up from their previous estimate of ($0.56). Leerink Partnrs has a “Strong-Buy” rating on the stock. The consensus estimate for Solid Biosciences’ current full-year earnings is ($2.64) per share. Leerink Partnrs also issued estimates for Solid Biosciences’ Q3 2024 earnings at ($0.55) EPS, Q4 2024 earnings at ($0.55) EPS, FY2024 earnings at ($2.29) EPS and FY2025 earnings at ($2.38) EPS.

Several other equities analysts also recently weighed in on the company. Barclays dropped their target price on Solid Biosciences from $21.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, May 16th. HC Wainwright reissued a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a research report on Monday, May 20th. JPMorgan Chase & Co. reduced their price objective on Solid Biosciences from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Piper Sandler restated an “overweight” rating and issued a $20.00 price objective on shares of Solid Biosciences in a report on Friday, June 21st. Finally, Citigroup began coverage on Solid Biosciences in a report on Friday, March 15th. They issued a “buy” rating and a $16.00 price target for the company. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Solid Biosciences currently has an average rating of “Buy” and a consensus price target of $15.33.

Solid Biosciences Stock Performance

NASDAQ:SLDB opened at $5.74 on Wednesday. The stock has a market capitalization of $220.30 million, a P/E ratio of -1.46 and a beta of 1.87. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.94 and a current ratio of 14.94. Solid Biosciences has a fifty-two week low of $1.81 and a fifty-two week high of $15.05. The company has a 50 day moving average price of $8.34 and a 200 day moving average price of $8.75.

Solid Biosciences (NASDAQ:SLDB) last posted its earnings results on Wednesday, May 15th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07).

Institutional Trading of Solid Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in SLDB. Vestal Point Capital LP purchased a new position in Solid Biosciences in the fourth quarter worth $209,000. Vanguard Group Inc. lifted its position in shares of Solid Biosciences by 283.9% during the 1st quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock valued at $16,578,000 after acquiring an additional 920,404 shares during the period. Bain Capital Life Sciences Investors LLC boosted its stake 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 worth $53,741,000 after acquiring an additional 904,160 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Solid Biosciences during the 1st quarter worth approximately $23,935,000. Finally, Artal Group S.A. grew its holdings 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 acquiring an additional 1,590,781 shares during the period. Hedge funds and other institutional investors own 81.46% of the company’s stock.

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.