Cantor Fitzgerald Has Weak Estimate for SLDB FY2024 Earnings

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

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

A number of other equities research analysts also recently weighed in on the stock. Chardan Capital reissued a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a research note on Monday, November 11th. JPMorgan Chase & Co. dropped their target price on shares of Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. HC Wainwright reissued a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a research note on Thursday, November 7th. William Blair raised Solid Biosciences to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Barclays dropped their price objective on Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating for the company in a report on Wednesday, August 14th. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Solid Biosciences presently has a consensus rating of “Buy” and an average price target of $15.14.

Solid Biosciences Trading Up 3.4 %

Solid Biosciences stock opened at $5.41 on Thursday. The company has a market cap of $216.16 million, a PE ratio of -1.81 and a beta of 1.92. Solid Biosciences has a 1 year low of $2.63 and a 1 year high of $15.05. The company’s 50-day moving average is $6.32 and its two-hundred day moving average is $7.51.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLDB. Janus Henderson Group PLC acquired a new position in shares of Solid Biosciences in the first quarter valued at approximately $23,935,000. Artal Group S.A. raised its stake in shares of Solid Biosciences by 175.0% in the 1st quarter. Artal Group S.A. now owns 2,500,000 shares of the company’s stock valued at $33,300,000 after purchasing an additional 1,590,781 shares during the period. Millennium Management LLC lifted its holdings in shares of Solid Biosciences by 135.7% in the second quarter. Millennium Management LLC now owns 1,728,065 shares of the company’s stock valued at $9,798,000 after purchasing an additional 994,984 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of 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 buying an additional 920,404 shares during the period. Finally, RA Capital Management L.P. grew its holdings in shares of Solid Biosciences by 26.4% during the first quarter. RA Capital Management L.P. now owns 4,330,446 shares of the company’s stock worth $57,682,000 after buying an additional 904,160 shares in the last quarter. 81.46% of the stock is 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.