Equities analysts expect that Solid Biosciences (NASDAQ:SLDB) will post earnings per share of ($0.52) for the current quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Solid Biosciences’ earnings. The highest EPS estimate is ($0.51) and the lowest is ($0.53). The firm is scheduled to report its next earnings results on Thursday, August 9th.
According to Zacks, analysts expect that Solid Biosciences will report full year earnings of ($2.20) per share for the current year, with EPS estimates ranging from ($2.24) to ($2.15). For the next year, analysts anticipate that the company will post earnings of ($2.17) per share, with EPS estimates ranging from ($2.30) to ($1.96). Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover Solid Biosciences.
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Solid Biosciences (NASDAQ:SLDB) last announced its earnings results on Thursday, May 10th. The company reported ($0.54) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.58) by $0.04.
SLDB has been the topic of several recent analyst reports. Nomura dropped their price target on Solid Biosciences from $52.00 to $37.00 and set a “buy” rating on the stock in a research note on Monday, March 19th. Leerink Swann dropped their price target on Solid Biosciences from $36.00 to $14.00 and set a “hold” rating on the stock in a research note on Monday, April 2nd. JPMorgan Chase lowered Solid Biosciences from a “neutral” rating to an “underweight” rating and set a $28.00 price target on the stock. in a research note on Thursday, March 15th. Goldman Sachs initiated coverage on Solid Biosciences in a research note on Tuesday, February 20th. They issued a “neutral” rating and a $31.00 price target on the stock. Finally, Instinet initiated coverage on Solid Biosciences in a research note on Tuesday, February 20th. They issued a “buy” rating and a $52.00 price target on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $35.58.
A number of institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. acquired a new position in Solid Biosciences in the first quarter valued at approximately $25,063,000. BlackRock Inc. acquired a new position in Solid Biosciences in the first quarter valued at approximately $4,794,000. Eventide Asset Management LLC acquired a new position in Solid Biosciences in the first quarter valued at approximately $3,000,000. Foresite Capital Management III LLC acquired a new position in Solid Biosciences in the first quarter valued at approximately $2,020,000. Finally, venBio Select Advisor LLC acquired a new position in shares of Solid Biosciences during the first quarter worth approximately $2,063,000. 43.02% of the stock is currently owned by hedge funds and other institutional investors.
SLDB stock traded up $0.10 during trading on Thursday, hitting $20.60. The company had a trading volume of 232,349 shares, compared to its average volume of 347,813. Solid Biosciences has a one year low of $6.83 and a one year high of $33.74. The stock has a market capitalization of $776.26 million and a PE ratio of -6.96.
About Solid Biosciences
Solid Biosciences Inc engages in identifying and developing therapies for duchenne muscular dystrophy in the United States. Its lead product candidate includes SGT-001, a gene therapy that is in Phase I/II clinical trials to restore functional dystrophin protein expression in patients' muscles. The company's product candidates also comprise SB-001, a monoclonal antibody to reduce fibrosis and inflammation.
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