Solid Biosciences (NASDAQ:SLDB) Posts Earnings Results, Beats Estimates By $0.01 EPS

Solid Biosciences (NASDAQ:SLDB) posted its quarterly earnings data on Wednesday. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.01, Zacks reports.

Solid Biosciences Trading Up 3.8%

SLDB stock traded up $0.24 during mid-day trading on Wednesday, hitting $6.52. The stock had a trading volume of 1,056,577 shares, compared to its average volume of 1,358,261. The firm has a fifty day simple moving average of $7.69 and a 200 day simple moving average of $7.65. The firm has a market capitalization of $699.07 million, a P/E ratio of -3.41 and a beta of 2.65. Solid Biosciences has a 52 week low of $3.79 and a 52 week high of $11.45.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. UBS Group began coverage on shares of Solid Biosciences in a research report on Wednesday, October 14th. They issued a “buy” rating and a $20.00 target price for the company. Truist Financial boosted their price objective on shares of Solid Biosciences from $16.00 to $20.00 and gave the company a “buy” rating in a report on Friday, August 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Biosciences in a report on Thursday, October 15th. Royal Bank Of Canada assumed coverage on shares of Solid Biosciences in a research report on Wednesday, September 16th. They set an “outperform” rating and a $18.00 target price on the stock. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Solid Biosciences in a report on Tuesday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.54.

Solid Biosciences Company Profile

Solid Biosciences Inc (NASDAQ: SLDB) is a biotechnology company focused on developing gene therapies for neuromuscular and other serious genetic diseases. The company uses adeno-associated virus (AAV) delivery technologies and genetic medicine approaches to develop treatments intended to address the underlying causes of disease.

Its lead investigational program, SGT-003, is being developed as a gene therapy for Duchenne muscular dystrophy, a severe X-linked muscle-wasting disorder. Solid Biosciences also has additional preclinical and clinical programs targeting other neuromuscular conditions, including diseases associated with defects in muscle proteins.