Brokerages Expect Solid Biosciences Inc (NASDAQ:SLDB) to Announce -$0.62 Earnings Per Share

Equities research analysts predict that Solid Biosciences Inc (NASDAQ:SLDB) will post ($0.62) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Solid Biosciences’ earnings, with the lowest EPS estimate coming in at ($0.66) and the highest estimate coming in at ($0.58). Solid Biosciences reported earnings of ($0.55) per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 12.7%. The business is scheduled to announce its next quarterly earnings report on Tuesday, November 12th.

According to Zacks, analysts expect that Solid Biosciences will report full-year earnings of ($2.85) per share for the current fiscal year, with EPS estimates ranging from ($3.05) to ($2.68). For the next financial year, analysts anticipate that the business will post earnings of ($2.06) per share, with EPS estimates ranging from ($2.17) to ($1.91). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Solid Biosciences.

Solid Biosciences (NASDAQ:SLDB) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.05.

A number of equities research analysts have issued reports on the stock. Svb Leerink raised shares of Solid Biosciences from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $8.00 to $15.00 in a report on Monday, August 19th. Chardan Capital upgraded Solid Biosciences from a “neutral” rating to a “buy” rating and raised their price target for the stock from $7.50 to $10.00 in a research report on Friday, August 16th. Zacks Investment Research downgraded Solid Biosciences from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. ValuEngine upgraded Solid Biosciences from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Leerink Swann upgraded Solid Biosciences from a “market perform” rating to an “outperform” rating in a research report on Monday, August 19th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $9.00.

Solid Biosciences stock traded down $0.32 during midday trading on Friday, hitting $10.05. The stock had a trading volume of 8,297 shares, compared to its average volume of 414,551. The firm’s fifty day moving average is $9.56 and its two-hundred day moving average is $7.64. The company has a market capitalization of $476.56 million, a PE ratio of -4.47 and a beta of 1.91. Solid Biosciences has a 52-week low of $4.32 and a 52-week high of $43.59. The company has a current ratio of 5.73, a quick ratio of 5.73 and a debt-to-equity ratio of 0.08.

In related news, Director Life Sciences Maste Perceptive purchased 2,822,581 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was bought at an average cost of $4.65 per share, with a total value of $13,125,001.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 31.20% of the company’s stock.

Large investors have recently made changes to their positions in the business. Atria Investments LLC acquired a new position in Solid Biosciences in the second quarter valued at approximately $472,000. Trexquant Investment LP raised its stake in shares of Solid Biosciences by 70.4% during the 2nd quarter. Trexquant Investment LP now owns 24,074 shares of the company’s stock worth $138,000 after buying an additional 9,947 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Solid Biosciences during the 1st quarter worth approximately $325,000. NumerixS Investment Technologies Inc acquired a new position in shares of Solid Biosciences during the 1st quarter worth approximately $184,000. Finally, Capital Fund Management S.A. acquired a new position in shares of Solid Biosciences during the 2nd quarter worth approximately $107,000. 46.24% of the stock is owned by institutional investors.

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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