FY2024 EPS Forecast for Solid Biosciences Cut by Analyst

Solid Biosciences Inc. (NASDAQ:SLDB) – Investment analysts at Cantor Fitzgerald decreased their FY2024 earnings per share (EPS) estimates for shares of Solid Biosciences in a report issued on Monday, November 18th. Cantor Fitzgerald analyst C. Duncan now expects that the company will earn ($2.85) per share for the year, down from their prior forecast of ($2.54). The consensus estimate for Solid Biosciences’ current full-year earnings is ($2.81) per share.

A number of other research analysts also recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Chardan Capital restated a “buy” rating and issued a $15.00 price objective on shares of Solid Biosciences in a research note on Monday, November 11th. William Blair raised shares of Solid Biosciences to a “strong-buy” rating in a report on Friday, August 30th. HC Wainwright reiterated a “buy” rating and issued a $16.00 target price on shares of Solid Biosciences in a report on Thursday, November 7th. Finally, Barclays decreased their price target on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating for the company in a report on Wednesday, August 14th. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $15.14.

Solid Biosciences Stock Up 3.4 %

SLDB stock opened at $5.41 on Thursday. The firm has a 50 day moving average of $6.32 and a two-hundred day moving average of $7.51. Solid Biosciences has a 12 month low of $2.63 and a 12 month high of $15.05. The company has a market capitalization of $216.16 million, a price-to-earnings ratio of -1.81 and a beta of 1.92.

Solid Biosciences (NASDAQ:SLDB) last issued its earnings results on Wednesday, November 6th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.12).

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Solid Biosciences by 283.9% during the first quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock worth $16,578,000 after buying an additional 920,404 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in Solid Biosciences during the 1st quarter valued at $23,935,000. Acadian Asset Management LLC bought a new position in Solid Biosciences in the 2nd quarter valued at $379,000. Cubist Systematic Strategies LLC acquired a new position in Solid Biosciences in the second quarter worth $412,000. Finally, Millennium Management LLC grew its holdings in shares of Solid Biosciences by 135.7% during the second quarter. Millennium Management LLC now owns 1,728,065 shares of the company’s stock worth $9,798,000 after purchasing an additional 994,984 shares during the last quarter. 81.46% of the stock is currently owned by institutional investors and hedge funds.

About Solid Biosciences

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.