Q2 2024 EPS Estimates for Solid Biosciences Inc. Reduced by HC Wainwright (NASDAQ:SLDB)

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Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) - HC Wainwright cut their Q2 2024 earnings per share estimates for Solid Biosciences in a report issued on Monday, May 20th. HC Wainwright analyst A. He now forecasts that the company will post earnings of ($0.72) per share for the quarter, down from their prior forecast of ($0.69). HC Wainwright currently has a "Buy" rating and a $16.00 price target on the stock. The consensus estimate for Solid Biosciences' current full-year earnings is ($2.68) per share. HC Wainwright also issued estimates for Solid Biosciences' Q4 2024 earnings at ($0.77) EPS, FY2024 earnings at ($2.87) EPS, FY2025 earnings at ($3.63) EPS, FY2026 earnings at ($3.00) EPS, FY2027 earnings at ($2.28) EPS and FY2028 earnings at ($0.88) EPS.

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Other analysts also recently issued reports about the company. William Blair reiterated an "outperform" rating on shares of Solid Biosciences in a research report on Thursday, March 28th. Piper Sandler upgraded Solid Biosciences from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $8.00 to $20.00 in a research report on Thursday, March 14th. Citigroup began coverage on Solid Biosciences in a research report on Friday, March 15th. They set a "buy" rating and a $16.00 target price on the stock. Finally, Barclays decreased their target price on Solid Biosciences from $21.00 to $18.00 and set an "overweight" rating on the stock in a research report on Thursday, May 16th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $17.50.

Read Our Latest Report on SLDB

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Solid Biosciences Price Performance

Shares of Solid Biosciences stock traded down $0.12 during trading on Wednesday, reaching $8.39. The company's stock had a trading volume of 128,726 shares, compared to its average volume of 301,461. The business has a 50 day moving average price of $10.86 and a 200-day moving average price of $7.99. The company has a quick ratio of 14.94, a current ratio of 14.94 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $322.01 million, a P/E ratio of -2.13 and a beta of 2.02. Solid Biosciences has a 12-month low of $1.81 and a 12-month high of $15.05.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last posted its quarterly earnings results on Wednesday, March 13th. The company reported ($1.00) earnings per share for the quarter, beating analysts' consensus estimates of ($1.01) by $0.01.

Hedge Funds Weigh In On Solid Biosciences

Several institutional investors have recently added to or reduced their stakes in SLDB. Vestal Point Capital LP acquired a new position in Solid Biosciences in the fourth quarter valued at $209,000. Vanguard Group Inc. increased its stake in Solid Biosciences by 283.9% during the first quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company's stock worth $16,578,000 after acquiring an additional 920,404 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in Solid Biosciences during the first quarter worth about $23,935,000. Artal Group S.A. increased its stake in Solid Biosciences by 175.0% during the first quarter. Artal Group S.A. now owns 2,500,000 shares of the company's stock worth $33,300,000 after acquiring an additional 1,590,781 shares during the last quarter. Finally, Bain Capital Life Sciences Investors LLC increased its stake in Solid Biosciences by 28.9% during the first quarter. Bain Capital Life Sciences Investors LLC now owns 4,034,582 shares of the company's stock worth $53,741,000 after acquiring an additional 904,160 shares during the last quarter. 81.46% of the stock is currently owned by institutional investors and hedge funds.

Solid Biosciences Company Profile

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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.

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