Solid Biosciences (NASDAQ:SLDB) Releases 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 Trading Up 1.7 %

SLDB traded up $0.10 on Friday, reaching $5.87. The stock had a trading volume of 150,267 shares, compared to its average volume of 343,789. Solid Biosciences has a fifty-two week low of $2.00 and a fifty-two week high of $15.05. The firm has a 50-day moving average of $6.84 and a 200-day moving average of $7.76. The company has a market capitalization of $226.58 million, a price-to-earnings ratio of -1.93 and a beta of 1.92.

Analyst Upgrades and Downgrades

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