Zacks: Analysts Anticipate Solid Biosciences Inc. (NASDAQ:SLDB) Will Announce Earnings of -$0.21 Per Share

Wall Street analysts expect Solid Biosciences Inc. (NASDAQ:SLDB – Get Rating) to announce earnings of ($0.21) per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Solid Biosciences’ earnings. The highest EPS estimate is ($0.17) and the lowest is ($0.23). Solid Biosciences posted earnings of ($0.17) per share during the same quarter last year, which suggests a negative year-over-year growth rate of 23.5%. The business is expected to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Solid Biosciences will report full year earnings of ($0.77) per share for the current fiscal year, with EPS estimates ranging from ($0.94) to ($0.68). For the next fiscal year, analysts expect that the firm will post earnings of ($0.56) per share, with EPS estimates ranging from ($0.89) to ($0.37). Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Solid Biosciences.

Solid Biosciences (NASDAQ:SLDB – Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.04). The company had revenue of $1.93 million during the quarter, compared to the consensus estimate of $3.57 million. Solid Biosciences had a negative net margin of 660.25% and a negative return on equity of 37.71%. During the same period in the previous year, the business earned ($0.19) earnings per share.

A number of analysts have recently weighed in on SLDB shares. Chardan Capital lowered their price objective on Solid Biosciences from $17.00 to $7.00 in a research report on Thursday, April 28th. SVB Leerink restated an “outperform” rating on shares of Solid Biosciences in a research note on Wednesday, April 27th. Zacks Investment Research cut Solid Biosciences from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. Finally, Piper Sandler lowered their target price on Solid Biosciences from $5.00 to $2.00 and set a “neutral” rating on the stock in a report on Wednesday, May 18th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $4.31.

In other Solid Biosciences news, COO Joel Solomon Zev Schneider sold 30,504 shares of the company’s stock in a transaction dated Monday, March 14th. The shares were sold at an average price of $1.10, for a total value of $33,554.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 24.90% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Suvretta Capital Management LLC grew its stake in Solid Biosciences by 14.9% during the first quarter. Suvretta Capital Management LLC now owns 7,224,860 shares of the company’s stock worth $8,670,000 after buying an additional 937,667 shares in the last quarter. BlackRock Inc. lifted its stake in Solid Biosciences by 38.6% during the 4th quarter. BlackRock Inc. now owns 6,253,209 shares of the company’s stock valued at $10,942,000 after acquiring an additional 1,741,514 shares in the last quarter. Alyeska Investment Group L.P. lifted its stake in Solid Biosciences by 29.4% during the 1st quarter. Alyeska Investment Group L.P. now owns 1,319,245 shares of the company’s stock valued at $1,583,000 after acquiring an additional 300,000 shares in the last quarter. Renaissance Technologies LLC raised its stake in Solid Biosciences by 108.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,268,575 shares of the company’s stock valued at $1,522,000 after acquiring an additional 660,747 shares during the period. Finally, State Street Corp grew its holdings in Solid Biosciences by 16.7% during the 1st quarter. State Street Corp now owns 1,075,937 shares of the company’s stock valued at $1,291,000 after buying an additional 153,862 shares in the last quarter. 66.95% of the stock is owned by institutional investors.

SLDB opened at $0.50 on Wednesday. The stock’s fifty day moving average is $0.89 and its two-hundred day moving average is $1.28. The company has a market capitalization of $56.15 million, a P/E ratio of -0.69 and a beta of 1.54. Solid Biosciences has a 52 week low of $0.42 and a 52 week high of $4.92.

About Solid Biosciences (Get Rating)

Solid Biosciences Inc engages in developing therapies for duchenne muscular dystrophy 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 drive functional dystrophin protein expression in patients' muscles; and SGT-003, a ext-generation gene transfer candidate for the treatment of duchenne muscular dystrophy.

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