Solid Biosciences (NASDAQ:SLDB) Issues Quarterly Earnings Results, Misses Expectations By $0.12 EPS

Solid Biosciences (NASDAQ:SLDB) released its earnings results on Wednesday. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.12), Zacks reports.

Solid Biosciences Stock Performance

NASDAQ:SLDB traded down $0.37 during trading hours on Thursday, hitting $5.77. 281,937 shares of the company’s stock traded hands, compared to its average volume of 344,683. The stock’s fifty day moving average price is $6.91 and its two-hundred day moving average price is $7.78. The firm has a market cap of $222.72 million, a P/E ratio of -1.75 and a beta of 1.92. Solid Biosciences has a twelve month low of $2.00 and a twelve month high of $15.05.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. William Blair upgraded Solid Biosciences to a “strong-buy” rating in a report on Friday, August 30th. Barclays decreased their price target on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 14th. HC Wainwright reiterated a “buy” rating and set a $16.00 price objective on shares of Solid Biosciences in a research report on Thursday. Finally, JPMorgan Chase & Co. upgraded Solid Biosciences from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $10.00 to $15.00 in a report on Monday, July 15th. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $15.67.

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.