Equities Analysts Offer Predictions for SLDB FY2024 Earnings

Solid Biosciences Inc. (NASDAQ:SLDB) – Investment analysts at Cantor Fitzgerald lowered their FY2024 earnings per share estimates for shares of Solid Biosciences in a note issued to investors on Monday, November 18th. Cantor Fitzgerald analyst C. Duncan now forecasts that the company will earn ($2.85) per share for the year, down from their previous forecast of ($2.54). The consensus estimate for Solid Biosciences’ current full-year earnings is ($2.81) per share.

A number of other brokerages have also weighed in on SLDB. Barclays decreased their target price 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 report on Friday, August 30th. JPMorgan Chase & Co. lowered their price objective on shares of Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Chardan Capital reissued a “buy” rating and set a $15.00 target price on shares of Solid Biosciences in a research report on Monday, November 11th. Finally, HC Wainwright restated a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $15.14.

Solid Biosciences Stock Down 2.9 %

Solid Biosciences stock opened at $4.96 on Thursday. The company has a 50 day moving average price of $6.37 and a 200-day moving average price of $7.53. Solid Biosciences has a fifty-two week low of $2.32 and a fifty-two week high of $15.05.

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

Institutional Trading of Solid Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its stake in Solid Biosciences by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 70,827 shares of the company’s stock worth $402,000 after buying an additional 5,287 shares during the last quarter. MetLife Investment Management LLC grew its stake in shares of Solid Biosciences by 129.1% during the third quarter. MetLife Investment Management LLC now owns 13,699 shares of the company’s stock worth $95,000 after acquiring an additional 7,719 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Solid Biosciences by 39.9% during the second quarter. American Century Companies Inc. now owns 34,557 shares of the company’s stock valued at $196,000 after acquiring an additional 9,853 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Solid Biosciences in the 3rd quarter valued at approximately $71,000. Finally, Point72 DIFC Ltd acquired a new stake in Solid Biosciences in the 2nd quarter worth approximately $58,000. Hedge funds and other institutional investors own 81.46% of the company’s stock.

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.