Solid Biosciences (NASDAQ:SLDB) Issues Earnings Results, Beats Expectations By $0.05 EPS

Solid Biosciences (NASDAQ:SLDB) posted its quarterly earnings data on Tuesday. The company reported ($0.61) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.05, Yahoo Finance reports.

Solid Biosciences Trading Up 6.9 %

Shares of NASDAQ SLDB traded up $0.58 during mid-day trading on Thursday, hitting $8.93. The stock had a trading volume of 471,788 shares, compared to its average volume of 373,432. 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 1 year low of $1.81 and a 1 year high of $15.05. The business has a 50 day moving average price of $7.57 and a two-hundred day moving average price of $9.10. The firm has a market cap of $342.73 million, a P/E ratio of -2.25 and a beta of 1.84.

Wall Street Analyst Weigh In

SLDB has been the subject of a number of research analyst reports. SVB Leerink upgraded shares of Solid Biosciences from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a report on Monday, June 24th. Barclays cut their target price 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. Piper Sandler reiterated an “overweight” rating and set a $20.00 target price on shares of Solid Biosciences in a research report on Friday, June 21st. HC Wainwright reiterated a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a research report on Wednesday. Finally, JPMorgan Chase & Co. upgraded shares of Solid Biosciences from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $10.00 to $15.00 in a research report on Monday, July 15th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Solid Biosciences has a consensus rating of “Buy” and an average price target of $15.67.

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.