Wall Street brokerages expect Solid Biosciences Inc (NASDAQ:SLDB) to announce earnings per share (EPS) of ($0.72) for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Solid Biosciences’ earnings, with the lowest EPS estimate coming in at ($0.85) and the highest estimate coming in at ($0.59). Solid Biosciences reported earnings per share of ($0.52) during the same quarter last year, which would suggest a negative year-over-year growth rate of 38.5%. The company is scheduled to issue its next quarterly earnings results on Friday, August 9th.
On average, analysts expect that Solid Biosciences will report full year earnings of ($2.63) per share for the current year, with EPS estimates ranging from ($3.25) to ($2.26). For the next financial year, analysts forecast that the company will post earnings of ($2.59) per share, with EPS estimates ranging from ($2.93) to ($2.14). Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Solid Biosciences.
Solid Biosciences (NASDAQ:SLDB) last released its earnings results on Monday, May 13th. The company reported ($0.85) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.63) by ($0.22).
Several equities research analysts have recently weighed in on SLDB shares. Leerink Swann downgraded shares of Solid Biosciences from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 7th. ValuEngine raised shares of Solid Biosciences from a “hold” rating to a “buy” rating in a research report on Tuesday, March 19th. Citigroup raised shares of Solid Biosciences from a “sell” rating to a “neutral” rating and set a $8.00 target price for the company in a research report on Friday, February 8th. Zacks Investment Research downgraded shares of Solid Biosciences from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Svb Leerink downgraded shares of Solid Biosciences from an “outperform” rating to a “market perform” rating in a research report on Friday, February 8th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. Solid Biosciences presently has a consensus rating of “Hold” and a consensus target price of $19.82.
In related news, Director Juan Andrey Zarur sold 8,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $10.00, for a total transaction of $80,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Boxer Capital, Llc sold 450,000 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $9.88, for a total transaction of $4,446,000.00. The disclosure for this sale can be found here. 31.20% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. Legal & General Group Plc grew its position in shares of Solid Biosciences by 47.8% during the 3rd quarter. Legal & General Group Plc now owns 1,825 shares of the company’s stock valued at $86,000 after buying an additional 590 shares during the last quarter. First Manhattan Co. grew its position in Solid Biosciences by 100.0% in the 4th quarter. First Manhattan Co. now owns 2,000 shares of the company’s stock worth $53,000 after purchasing an additional 1,000 shares during the last quarter. Flinton Capital Management LLC bought a new position in Solid Biosciences in the 4th quarter worth about $47,000. TIAA CREF Investment Management LLC grew its position in Solid Biosciences by 12.5% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 22,524 shares of the company’s stock worth $1,063,000 after purchasing an additional 2,504 shares during the last quarter. Finally, Teachers Advisors LLC grew its position in Solid Biosciences by 14.3% in the 3rd quarter. Teachers Advisors LLC now owns 21,653 shares of the company’s stock worth $1,022,000 after purchasing an additional 2,710 shares during the last quarter. 63.39% of the stock is owned by institutional investors and hedge funds.
Shares of SLDB traded down $0.14 during midday trading on Wednesday, hitting $6.04. The company had a trading volume of 339,898 shares, compared to its average volume of 577,197. The company has a market capitalization of $218.81 million, a P/E ratio of -2.68 and a beta of 1.68. Solid Biosciences has a 52 week low of $5.23 and a 52 week high of $54.84. The company has a debt-to-equity ratio of 0.07, a quick ratio of 10.31 and a current ratio of 6.99.
About Solid Biosciences
Solid Biosciences Inc, a life science company, engages in identifying and developing therapies for duchenne muscular dystrophy (DMD) in the United States. The company's lead product candidate is SGT-001, an adeno-associated viral vector-mediated gene transfer, which is in a Phase I/II clinical trial to restore functional dystrophin protein expression in patients' muscles.
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