William Blair Issues Pessimistic Forecast for SLDB Earnings

Solid Biosciences Inc. (NASDAQ:SLDB) – Equities researchers at William Blair reduced their FY2024 earnings per share estimates for shares of Solid Biosciences in a note issued to investors on Wednesday, November 6th. William Blair analyst S. Corwin now anticipates that the company will earn ($2.72) per share for the year, down from their prior forecast of ($2.57). William Blair currently has a “Strong-Buy” rating on the stock. The consensus estimate for Solid Biosciences’ current full-year earnings is ($2.75) per share. William Blair also issued estimates for Solid Biosciences’ Q4 2024 earnings at ($0.68) EPS, Q1 2025 earnings at ($0.74) EPS, Q2 2025 earnings at ($0.77) EPS, Q3 2025 earnings at ($0.75) EPS, Q4 2025 earnings at ($0.77) EPS and FY2025 earnings at ($3.02) EPS.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. dropped 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. Barclays dropped their price target 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. Chardan Capital restated a “buy” rating and issued a $15.00 price objective on shares of Solid Biosciences in a research report on Monday. Finally, HC Wainwright reiterated a “buy” rating and set a $16.00 price objective on shares of Solid Biosciences in a research report on Thursday, November 7th. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Solid Biosciences has a consensus rating of “Buy” and a consensus target price of $15.14.

Solid Biosciences Trading Down 8.0 %

NASDAQ:SLDB opened at $5.51 on Monday. The company has a market capitalization of $220.18 million, a P/E ratio of -1.81 and a beta of 1.92. The firm has a 50-day moving average price of $6.73 and a two-hundred day moving average price of $7.70. Solid Biosciences has a twelve month low of $2.00 and a twelve month high of $15.05.

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

Hedge Funds Weigh In On Solid Biosciences

Several institutional investors have recently added to or reduced their stakes in SLDB. Point72 DIFC Ltd purchased a new stake in Solid Biosciences in the 2nd quarter valued at about $58,000. Ground Swell Capital LLC purchased a new stake in Solid Biosciences in the second quarter valued at approximately $76,000. Algert Global LLC acquired a new position in Solid Biosciences during the second quarter worth approximately $82,000. Susquehanna Fundamental Investments LLC purchased a new position in Solid Biosciences during the second quarter worth approximately $92,000. Finally, Valence8 US LP acquired a new position in shares of Solid Biosciences in the 3rd quarter valued at $110,000. 81.46% of the stock is currently owned by institutional investors and hedge funds.

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.