HC Wainwright Cuts Earnings Estimates for Solid Biosciences

Solid Biosciences Inc. (NASDAQ:SLDB) – Analysts at HC Wainwright decreased their FY2024 earnings estimates for Solid Biosciences in a research note issued on Thursday, November 7th. HC Wainwright analyst A. He now anticipates that the company will post earnings per share of ($2.90) for the year, down from their prior forecast of ($2.68). HC Wainwright has a “Buy” rating and a $16.00 price objective on the stock. The consensus estimate for Solid Biosciences’ current full-year earnings is ($2.75) per share. HC Wainwright also issued estimates for Solid Biosciences’ Q4 2024 earnings at ($0.85) EPS, Q1 2025 earnings at ($0.86) EPS, Q2 2025 earnings at ($0.87) EPS, Q3 2025 earnings at ($0.88) EPS, Q4 2025 earnings at ($0.88) EPS, FY2026 earnings at ($2.89) EPS, FY2027 earnings at ($2.31) EPS and FY2028 earnings at ($0.91) EPS.

A number of other equities analysts have also recently commented on SLDB. Chardan Capital reaffirmed a “buy” rating and set a $15.00 price objective on shares of Solid Biosciences in a research report on Monday. William Blair raised shares of Solid Biosciences to a “strong-buy” rating in a report on Friday, August 30th. Barclays lowered their price target on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. reduced their price objective on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Tuesday. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Solid Biosciences presently has an average rating of “Buy” and an average price target of $15.14.

Solid Biosciences Trading Down 8.0 %

Shares of NASDAQ SLDB opened at $5.51 on Monday. The company has a market capitalization of $220.18 million, a P/E ratio of -1.81 and a beta of 1.92. Solid Biosciences has a 12 month low of $2.00 and a 12 month high of $15.05. The stock has a 50 day moving average of $6.73 and a 200-day moving average of $7.70.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.12).

Institutional Inflows and Outflows

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