What is Chardan Capital’s Estimate for SLDB FY2024 Earnings?

Solid Biosciences Inc. (NASDAQ:SLDB) – Research analysts at Chardan Capital reduced their FY2024 earnings per share estimates for shares of Solid Biosciences in a report released on Monday, November 11th. Chardan Capital analyst Y. Livshits now anticipates that the company will post earnings of ($2.91) per share for the year, down from their previous forecast of ($2.72). Chardan Capital currently has a “Buy” rating and a $15.00 target price on the stock. The consensus estimate for Solid Biosciences’ current full-year earnings is ($2.75) per share. Chardan Capital also issued estimates for Solid Biosciences’ FY2025 earnings at ($2.03) EPS.

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

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

Solid Biosciences Price Performance

Shares of NASDAQ SLDB opened at $5.56 on Thursday. Solid Biosciences has a 1 year low of $2.10 and a 1 year high of $15.05. The company has a market capitalization of $222.15 million, a P/E ratio of -1.83 and a beta of 1.92. The company has a 50 day simple moving average of $6.67 and a 200-day simple moving average of $7.69.

Institutional Investors Weigh In On Solid Biosciences

Several institutional investors have recently modified their holdings of SLDB. Vanguard Group Inc. lifted its stake in Solid Biosciences by 283.9% in the 1st quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock valued at $16,578,000 after buying an additional 920,404 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in Solid Biosciences during the 1st quarter worth about $23,935,000. Acadian Asset Management LLC acquired a new position in Solid Biosciences in the 2nd quarter valued at about $379,000. Cubist Systematic Strategies LLC purchased a new position in Solid Biosciences in the 2nd quarter valued at about $412,000. Finally, Millennium Management LLC boosted its stake in shares of Solid Biosciences by 135.7% during the 2nd 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. Hedge funds and other institutional investors 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.