Analysts Anticipate Solid Biosciences Inc (NASDAQ:SLDB) Will Post Earnings of -$0.72 Per Share

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Wall Street analysts expect Solid Biosciences Inc (NASDAQ:SLDB) to announce earnings per share (EPS) of ($0.72) for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for Solid Biosciences’ earnings, with estimates ranging from ($0.85) to ($0.59). Solid Biosciences posted earnings of ($0.52) per share in the same quarter last year, which suggests a negative year-over-year growth rate of 38.5%. The business is scheduled to announce its next quarterly earnings results on Friday, August 9th.

According to Zacks, analysts expect that Solid Biosciences will report full year earnings of ($3.09) per share for the current year, with EPS estimates ranging from ($3.63) to ($2.39). For the next fiscal year, analysts expect that the company will post earnings of ($2.44) per share, with EPS estimates ranging from ($2.69) to ($2.14). Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Solid Biosciences.

Solid Biosciences (NASDAQ:SLDB) last posted its earnings results on Monday, May 13th. The company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.22).

Several equities research analysts recently commented on SLDB shares. Credit Suisse Group downgraded shares of Solid Biosciences from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $7.00 to $6.00 in a research report on Tuesday, May 14th. Chardan Capital downgraded shares of Solid Biosciences from a “buy” rating to a “neutral” rating and cut their target price for the stock from $15.00 to $7.50 in a research report on Tuesday, May 14th. ValuEngine upgraded shares of Solid Biosciences from a “hold” rating to a “buy” rating in a research report on Tuesday, March 19th. Zacks Investment Research downgraded shares of Solid Biosciences from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Goldman Sachs Group downgraded shares of Solid Biosciences from a “neutral” rating to a “sell” rating and cut their target price for the stock from $5.00 to $4.00 in a research report on Tuesday, May 14th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. Solid Biosciences currently has a consensus rating of “Hold” and an average price target of $19.82.

NASDAQ:SLDB traded down $0.27 during mid-day trading on Friday, hitting $4.99. 143,500 shares of the company’s stock were exchanged, compared to its average volume of 775,284. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.99 and a quick ratio of 6.99. Solid Biosciences has a fifty-two week low of $4.71 and a fifty-two week high of $54.84. The company has a market cap of $186.26 million, a PE ratio of -2.22 and a beta of 2.30.

In other news, major shareholder Boxer Capital, Llc sold 450,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $9.88, for a total value of $4,446,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Juan Andrey Zarur sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $10.00, for a total transaction of $80,000.00. The disclosure for this sale can be found here. 31.20% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc increased its stake in shares of Solid Biosciences by 47.8% in the 3rd quarter. Legal & General Group Plc now owns 1,825 shares of the company’s stock valued at $86,000 after acquiring an additional 590 shares in the last quarter. First Manhattan Co. increased its stake in shares of Solid Biosciences by 100.0% in the 4th quarter. First Manhattan Co. now owns 2,000 shares of the company’s stock valued at $53,000 after acquiring an additional 1,000 shares in the last quarter. Flinton Capital Management LLC bought a new stake in shares of Solid Biosciences in the 4th quarter valued at $47,000. TIAA CREF Investment Management LLC increased its stake in shares of Solid Biosciences by 12.5% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 22,524 shares of the company’s stock valued at $1,063,000 after acquiring an additional 2,504 shares in the last quarter. Finally, New York State Common Retirement Fund increased its stake in shares of Solid Biosciences by 28.6% in the 4th quarter. New York State Common Retirement Fund now owns 13,500 shares of the company’s stock valued at $362,000 after acquiring an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors own 59.41% of the company’s stock.

About Solid Biosciences

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

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