Wall Street brokerages expect Solid Biosciences Inc (NASDAQ:SLDB) to report earnings of ($0.58) per share for the current quarter, according to Zacks. Zero analysts have made estimates for Solid Biosciences’ earnings, with the lowest EPS estimate coming in at ($0.60) and the highest estimate coming in at ($0.55). Solid Biosciences reported earnings per share of ($0.84) in the same quarter last year, which would suggest a positive year over year growth rate of 31%. The firm is expected to issue its next quarterly earnings results on Thursday, April 4th.
On average, analysts expect that Solid Biosciences will report full year earnings of ($2.21) per share for the current fiscal year, with EPS estimates ranging from ($2.26) to ($2.17). For the next financial year, analysts expect that the company will post earnings of ($2.54) per share, with EPS estimates ranging from ($2.93) to ($2.22). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Solid Biosciences.
Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings data on Tuesday, November 13th. The company reported ($0.55) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.01.
Several research firms have recently weighed in on SLDB. Citigroup boosted their price objective on shares of Solid Biosciences from $25.00 to $31.00 and gave the company a “sell” rating in a report on Monday, December 3rd. Zacks Investment Research raised shares of Solid Biosciences from a “sell” rating to a “hold” rating in a report on Thursday, August 16th. Finally, Credit Suisse Group began coverage on shares of Solid Biosciences in a report on Thursday, September 6th. They set a “neutral” rating and a $38.00 price objective for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $42.56.
SLDB opened at $25.69 on Wednesday. Solid Biosciences has a twelve month low of $6.83 and a twelve month high of $54.84. The company has a market cap of $1.01 billion and a PE ratio of -8.92.
In other Solid Biosciences news, insider Jorge Armando Quiroz sold 40,150 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $31.21, for a total transaction of $1,253,081.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Pedro Alvaro Amorrortu sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $30.83, for a total transaction of $277,470.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 130,240 shares of company stock valued at $4,033,763.
Hedge funds have recently made changes to their positions in the business. Boxer Capital LLC increased its holdings in Solid Biosciences by 270.7% during the second quarter. Boxer Capital LLC now owns 2,780,000 shares of the company’s stock valued at $99,051,000 after buying an additional 2,030,000 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Solid Biosciences by 7.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 38,011 shares of the company’s stock valued at $1,355,000 after buying an additional 2,658 shares during the last quarter. Rhumbline Advisers purchased a new stake in Solid Biosciences during the second quarter valued at approximately $306,000. Bank of New York Mellon Corp increased its stake in shares of Solid Biosciences by 58.2% in the second quarter. Bank of New York Mellon Corp now owns 31,889 shares of the company’s stock worth $1,137,000 after purchasing an additional 11,726 shares in the last quarter. Finally, Partner Investment Management L.P. purchased a new stake in shares of Solid Biosciences in the second quarter worth $134,000. 63.59% of the stock is owned by institutional investors and hedge funds.
About Solid Biosciences
Solid Biosciences Inc engages in identifying and developing therapies for duchenne muscular dystrophy in the United States. Its lead product candidate includes SGT-001, a gene therapy that is in Phase I/II clinical trials to restore functional dystrophin protein expression in patients' muscles. The company's product candidates also comprise SB-001, a monoclonal antibody to reduce fibrosis and inflammation.
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