Q2 2024 EPS Estimates for Solid Biosciences Inc. (NASDAQ:SLDB) Cut by HC Wainwright

Solid Biosciences Inc. (NASDAQ:SLDB) – Stock analysts at HC Wainwright dropped their Q2 2024 earnings per share (EPS) estimates for Solid Biosciences in a research report issued to clients and investors on Monday, May 20th. HC Wainwright analyst A. He now forecasts that the company will earn ($0.72) per share for the quarter, down from their prior forecast of ($0.69). HC Wainwright currently has a “Buy” rating and a $16.00 price target on the stock. The consensus estimate for Solid Biosciences’ current full-year earnings is ($2.68) per share. HC Wainwright also issued estimates for Solid Biosciences’ Q4 2024 earnings at ($0.77) EPS, FY2024 earnings at ($2.87) EPS, FY2025 earnings at ($3.63) EPS, FY2026 earnings at ($3.00) EPS, FY2027 earnings at ($2.28) EPS and FY2028 earnings at ($0.88) EPS.

SLDB has been the subject of several other reports. Piper Sandler raised shares of Solid Biosciences from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $8.00 to $20.00 in a report on Thursday, March 14th. Citigroup began coverage on Solid Biosciences in a research report on Friday, March 15th. They issued a “buy” rating and a $16.00 target price on the stock. Barclays reduced their price target 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. Finally, William Blair reiterated an “outperform” rating on shares of Solid Biosciences in a research report on Thursday, March 28th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $17.50.

Solid Biosciences Price Performance

Shares of NASDAQ SLDB opened at $7.81 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.94 and a current ratio of 14.94. The company has a 50 day simple moving average of $10.77 and a two-hundred day simple moving average of $7.99. Solid Biosciences has a fifty-two week low of $1.81 and a fifty-two week high of $15.05. The company has a market capitalization of $299.74 million, a price-to-earnings ratio of -1.98 and a beta of 2.02.

Solid Biosciences (NASDAQ:SLDB) last issued its quarterly earnings results on Wednesday, March 13th. The company reported ($1.00) earnings per share for the quarter, topping the consensus estimate of ($1.01) by $0.01.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Vestal Point Capital LP purchased a new stake in Solid Biosciences in the fourth quarter worth about $209,000. Bain Capital Life Sciences Investors LLC lifted its position in shares of Solid Biosciences by 28.9% during the first quarter. Bain Capital Life Sciences Investors LLC now owns 4,034,582 shares of the company’s stock valued at $53,741,000 after buying an additional 904,160 shares during the last quarter. RA Capital Management L.P. lifted 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 valued at $57,682,000 after buying an additional 904,160 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Solid Biosciences by 283.9% in the 1st 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 in the last quarter. Finally, Artal Group S.A. raised its stake in shares of 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 acquiring an additional 1,590,781 shares in the last quarter. Hedge funds and other institutional investors own 81.46% of the company’s stock.

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.