HC Wainwright Issues Pessimistic Estimate for SLDB Earnings

Key Points

• HC Wainwright has lowered its FY2029 earnings estimate for Solid Biosciences to $1.07 per share from a previous estimate of $1.10, while maintaining a "Buy" rating and a price target of $20.00.
• Other analysts have also decreased their price targets for Solid Biosciences, with Chardan Capital reducing it from $16.00 to $15.00, and Barclays cutting theirs from $15.00 to $10.00.
• Solid Biosciences reported a quarterly earnings per share of ($0.42), surpassing the consensus estimate of ($0.51) by $0.09.

Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) - Equities researchers at HC Wainwright reduced their FY2029 EPS estimates for shares of Solid Biosciences in a research report issued on Wednesday, August 13th. HC Wainwright analyst A. He now anticipates that the company will post earnings per share of $1.07 for the year, down from their prior forecast of $1.10. HC Wainwright currently has a "Buy" rating and a $20.00 price objective on the stock. The consensus estimate for Solid Biosciences' current full-year earnings is ($2.84) per share.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.42) EPS for the quarter, topping analysts' consensus estimates of ($0.51) by $0.09.

SLDB has been the subject of several other research reports. Wall Street Zen upgraded shares of Solid Biosciences from a "sell" rating to a "hold" rating in a report on Saturday. Citigroup began coverage on shares of Solid Biosciences in a report on Thursday, June 26th. They issued a "buy" rating and a $14.00 target price for the company. Wedbush lowered their target price on shares of Solid Biosciences from $17.00 to $14.00 and set an "outperform" rating for the company in a report on Wednesday, August 13th. JPMorgan Chase & Co. lowered their target price on shares of Solid Biosciences from $15.00 to $13.00 and set an "overweight" rating for the company in a report on Thursday, August 14th. Finally, Cantor Fitzgerald set a $16.00 target price on shares of Solid Biosciences and gave the stock an "overweight" rating in a report on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the stock. Based on data from MarketBeat.com, Solid Biosciences presently has a consensus rating of "Buy" and a consensus price target of $15.00.

Solid Biosciences Stock Performance

Shares of NASDAQ:SLDB traded down $0.2050 on Thursday, reaching $5.8250. The company's stock had a trading volume of 449,685 shares, compared to its average volume of 1,926,417. Solid Biosciences has a 52-week low of $2.41 and a 52-week high of $10.37. The company has a market cap of $453.59 million, a P/E ratio of -2.08 and a beta of 2.44. The company has a 50-day simple moving average of $5.65 and a 200 day simple moving average of $4.47.

Institutional Investors Weigh In On Solid Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN lifted its holdings in Solid Biosciences by 29.4% during the 4th quarter. Wells Fargo & Company MN now owns 13,138 shares of the company's stock valued at $53,000 after buying an additional 2,986 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Solid Biosciences by 208.6% in the 2nd quarter. Legal & General Group Plc now owns 6,011 shares of the company's stock valued at $29,000 after purchasing an additional 4,063 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Solid Biosciences by 205.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company's stock valued at $33,000 after purchasing an additional 4,534 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Solid Biosciences by 4.0% in the 4th quarter. Wellington Management Group LLP now owns 124,551 shares of the company's stock valued at $498,000 after purchasing an additional 4,747 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Solid Biosciences by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 509,802 shares of the company's stock valued at $2,040,000 after purchasing an additional 4,932 shares in the last quarter. 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.