Brokers Set Expectations for Solid Biosciences Inc.’s Q2 2024 Earnings (NASDAQ:SLDB)

Solid Biosciences Inc. (NASDAQ:SLDB) – HC Wainwright lowered their Q2 2024 earnings estimates for shares of Solid Biosciences in a note issued to investors on Monday, May 20th. HC Wainwright analyst A. He now anticipates that the company will post earnings per share of ($0.72) for the quarter, down from their previous estimate of ($0.69). 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 ($2.68) 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.

Several other research firms have also recently weighed in on SLDB. Citigroup began coverage on shares of Solid Biosciences in a research note on Friday, March 15th. They issued a “buy” rating and a $16.00 target price for the company. Barclays decreased their target price on shares of Solid Biosciences from $21.00 to $18.00 and set an “overweight” rating for the company in a research note on Thursday, May 16th. Piper Sandler raised shares of Solid Biosciences from a “neutral” rating to an “overweight” rating and raised their target price for the company from $8.00 to $20.00 in a research note on Thursday, March 14th. Finally, William Blair reissued an “outperform” rating on shares of Solid Biosciences in a research note on Thursday, March 28th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $17.50.

Solid Biosciences Price Performance

NASDAQ SLDB opened at $8.39 on Wednesday. Solid Biosciences has a 12-month low of $1.81 and a 12-month high of $15.05. The company has a quick ratio of 14.94, a current ratio of 14.94 and a debt-to-equity ratio of 0.01. The firm’s 50 day moving average is $10.86 and its 200-day moving average is $7.99. The company has a market capitalization of $322.01 million, a PE ratio of -2.13 and a beta of 2.02.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings data on Wednesday, March 13th. The company reported ($1.00) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.01) by $0.01.

Hedge Funds Weigh In On Solid Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vestal Point Capital LP acquired a new position in shares of Solid Biosciences in the fourth quarter valued at about $209,000. Bain Capital Life Sciences Investors LLC grew its stake in shares of Solid Biosciences by 28.9% in 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 acquiring an additional 904,160 shares in the last quarter. RA Capital Management L.P. grew its stake in shares of Solid Biosciences by 26.4% in 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 acquiring an additional 904,160 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Solid Biosciences by 283.9% in the first quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock valued at $16,578,000 after acquiring an additional 920,404 shares in the last quarter. Finally, Artal Group S.A. grew its stake in shares of Solid Biosciences by 175.0% in the first quarter. Artal Group S.A. now owns 2,500,000 shares of the company’s stock valued at $33,300,000 after acquiring an additional 1,590,781 shares in the last quarter. 81.46% of the stock is owned by institutional investors.

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.