Analysts Anticipate Solid Biosciences Inc. (NASDAQ:SLDB) to Post -$0.28 EPS

Wall Street brokerages expect Solid Biosciences Inc. (NASDAQ:SLDB) to announce ($0.28) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for Solid Biosciences’ earnings. Solid Biosciences posted earnings per share of ($0.52) during the same quarter last year, which would suggest a positive year over year growth rate of 46.2%. The firm is expected to report its next quarterly earnings report on Thursday, May 6th.

On average, analysts expect that Solid Biosciences will report full-year earnings of ($1.11) per share for the current fiscal year, with EPS estimates ranging from ($1.46) to ($0.72). For the next year, analysts expect that the company will post earnings of ($0.98) per share, with EPS estimates ranging from ($1.35) to ($0.61). Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that follow Solid Biosciences.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings data on Sunday, March 14th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.03.

A number of analysts recently issued reports on the stock. Barclays initiated coverage on shares of Solid Biosciences in a research report on Monday, March 15th. They set an “overweight” rating and a $13.00 target price for the company. SVB Leerink raised Solid Biosciences from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $3.00 to $15.00 in a research report on Monday, March 22nd. Chardan Capital increased their price objective on shares of Solid Biosciences from $12.50 to $20.00 and gave the company a “buy” rating in a research report on Monday, March 22nd. Zacks Investment Research cut shares of Solid Biosciences from a “hold” rating to a “sell” rating in a research report on Wednesday, February 10th. Finally, Credit Suisse Group raised their price target on shares of Solid Biosciences from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Monday, March 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $11.04.

Shares of Solid Biosciences stock traded down $0.15 during trading hours on Thursday, reaching $5.36. The stock had a trading volume of 45,075 shares, compared to its average volume of 1,745,101. The firm has a market capitalization of $572.87 million, a price-to-earnings ratio of -2.61 and a beta of 1.10. Solid Biosciences has a 1 year low of $1.93 and a 1 year high of $11.58. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a 50 day simple moving average of $7.38 and a two-hundred day simple moving average of $5.54.

In other Solid Biosciences news, insider Carl Ashley Morris sold 23,398 shares of the stock in a transaction on Friday, March 12th. The shares were sold at an average price of $8.84, for a total transaction of $206,838.32. Following the sale, the insider now directly owns 287,301 shares of the company’s stock, valued at $2,539,740.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ilan Ganot sold 10,713 shares of the firm’s stock in a transaction dated Thursday, January 28th. The stock was sold at an average price of $6.14, for a total transaction of $65,777.82. The disclosure for this sale can be found here. Insiders have sold 44,486 shares of company stock worth $336,319 in the last ninety days. Corporate insiders own 31.20% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System raised its stake in Solid Biosciences by 16.5% during the 3rd quarter. California State Teachers Retirement System now owns 36,076 shares of the company’s stock valued at $73,000 after acquiring an additional 5,102 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Solid Biosciences by 25.4% during the fourth quarter. First Trust Advisors LP now owns 84,824 shares of the company’s stock valued at $643,000 after purchasing an additional 17,208 shares in the last quarter. ExodusPoint Capital Management LP bought a new stake in shares of Solid Biosciences during the 4th quarter worth about $348,000. Citigroup Inc. lifted its stake in shares of Solid Biosciences by 62.8% in the 4th quarter. Citigroup Inc. now owns 9,465 shares of the company’s stock worth $72,000 after acquiring an additional 3,652 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Solid Biosciences in the fourth quarter valued at approximately $115,000. 42.73% of the stock is owned by institutional investors and hedge funds.

About Solid Biosciences

Solid Biosciences Inc, a life science company, engages in developing therapies for duchenne muscular dystrophy (DMD) in the United States. The company's lead product candidate is SGT-001, a gene transfer candidate, which is in a Phase I/II clinical trial to derive functional dystrophin protein expression in patients' muscles.

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