Solid Biosciences Inc. Forecasted to Post Q3 2024 Earnings of ($0.67) Per Share (NASDAQ:SLDB)

Solid Biosciences Inc. (NASDAQ:SLDB) – Stock analysts at Leerink Partnrs boosted their Q3 2024 earnings per share estimates for shares of Solid Biosciences in a research note issued to investors on Wednesday, August 14th. Leerink Partnrs analyst J. Schwartz now forecasts that the company will post earnings per share of ($0.67) for the quarter, up from their prior forecast of ($0.72). Leerink Partnrs has a “Strong-Buy” rating on the stock. The consensus estimate for Solid Biosciences’ current full-year earnings is ($2.71) per share. Leerink Partnrs also issued estimates for Solid Biosciences’ Q4 2024 earnings at ($0.69) EPS, FY2024 earnings at ($2.61) EPS, Q1 2025 earnings at ($0.68) EPS, Q2 2025 earnings at ($0.69) EPS, Q3 2025 earnings at ($0.70) EPS, Q4 2025 earnings at ($0.69) EPS and FY2025 earnings at ($2.76) EPS.

Several other equities research analysts have also recently weighed in on the company. Piper Sandler restated an “overweight” rating and set a $20.00 target price on shares of Solid Biosciences in a research note on Friday, June 21st. JPMorgan Chase & Co. raised 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 note on Monday, July 15th. HC Wainwright reissued a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a research note on Wednesday, August 14th. Barclays reduced their price target on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 14th. Finally, 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 research report on Monday, June 24th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Solid Biosciences presently has a consensus rating of “Buy” and an average price target of $15.67.

Solid Biosciences Stock Performance

Shares of Solid Biosciences stock opened at $9.33 on Monday. The company has a 50 day moving average of $7.67 and a 200-day moving average of $9.16. The company has a market cap of $358.08 million, a PE ratio of -2.37 and a beta of 1.84. The company has a current ratio of 14.94, a quick ratio of 14.94 and a debt-to-equity ratio of 0.01. Solid Biosciences has a 1-year low of $1.81 and a 1-year high of $15.05.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.61) earnings per share for the quarter, topping the consensus estimate of ($0.66) by $0.05.

Institutional Investors Weigh In On Solid Biosciences

Hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC bought a new position in shares of Solid Biosciences during the first quarter valued at $23,935,000. Artal Group S.A. lifted its holdings in Solid Biosciences by 175.0% during the 1st quarter. Artal Group S.A. now owns 2,500,000 shares of the company’s stock worth $33,300,000 after buying an additional 1,590,781 shares during the period. Millennium Management LLC grew its position in shares of Solid Biosciences by 135.7% in the 2nd quarter. Millennium Management LLC now owns 1,728,065 shares of the company’s stock valued at $9,798,000 after buying an additional 994,984 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Solid Biosciences by 283.9% in the first quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock valued at $16,578,000 after buying an additional 920,404 shares during the period. Finally, RA Capital Management L.P. raised its position in shares of Solid Biosciences by 26.4% during the first quarter. RA Capital Management L.P. now owns 4,330,446 shares of the company’s stock worth $57,682,000 after acquiring an additional 904,160 shares during the last quarter. 81.46% of the stock is currently owned by institutional investors and hedge funds.

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.