Zacks: Analysts Anticipate Solid Biosciences Inc (SLDB) Will Post Earnings of -$0.58 Per Share

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Equities research analysts forecast that Solid Biosciences Inc (NASDAQ:SLDB) will post earnings of ($0.58) per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Solid Biosciences’ earnings, with estimates ranging from ($0.60) to ($0.55). Solid Biosciences reported earnings per share of ($0.84) in the same quarter last year, which indicates a positive year-over-year growth rate of 31%. The company is scheduled to issue its next earnings report on Thursday, April 4th.

According to Zacks, analysts expect that Solid Biosciences will report full year earnings of ($2.21) per share for the current year, with EPS estimates ranging from ($2.26) to ($2.17). For the next financial year, analysts expect that the firm will report earnings of ($2.54) per share, with EPS estimates ranging from ($2.93) to ($2.22). Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Solid Biosciences.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings data on Tuesday, November 13th. The company reported ($0.55) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.56) by $0.01.

Several brokerages have recently weighed in on SLDB. Zacks Investment Research lowered Solid Biosciences from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. Citigroup upped their price objective on Solid Biosciences from $25.00 to $31.00 and gave the company a “sell” rating in a report on Monday, December 3rd. Finally, Credit Suisse Group initiated coverage on Solid Biosciences in a report on Thursday, September 6th. They set a “neutral” rating and a $38.00 target price for the company. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. Solid Biosciences has an average rating of “Hold” and an average price target of $42.56.

Shares of Solid Biosciences stock opened at $25.69 on Wednesday. The firm has a market capitalization of $1.01 billion and a PE ratio of -8.92. Solid Biosciences has a fifty-two week low of $6.83 and a fifty-two week high of $54.84.

In other news, COO Pedro Alvaro Amorrortu sold 9,000 shares of the company’s stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $30.83, for a total transaction of $277,470.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joel Solomon Zev Schneider sold 21,990 shares of the company’s stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $30.84, for a total value of $678,171.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 130,240 shares of company stock valued at $4,033,763.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. American International Group Inc. lifted its holdings in shares of Solid Biosciences by 36.3% during the third quarter. American International Group Inc. now owns 8,085 shares of the company’s stock valued at $381,000 after purchasing an additional 2,154 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in Solid Biosciences by 12.5% during the third quarter. TIAA CREF Investment Management LLC now owns 22,524 shares of the company’s stock valued at $1,063,000 after buying an additional 2,504 shares during the period. Schwab Charles Investment Management Inc. raised its position in Solid Biosciences by 7.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 38,011 shares of the company’s stock valued at $1,355,000 after buying an additional 2,658 shares during the period. Teachers Advisors LLC raised its position in Solid Biosciences by 14.3% during the third quarter. Teachers Advisors LLC now owns 21,653 shares of the company’s stock valued at $1,022,000 after buying an additional 2,710 shares during the period. Finally, Partner Investment Management L.P. raised its position in Solid Biosciences by 75.4% during the third quarter. Partner Investment Management L.P. now owns 6,604 shares of the company’s stock valued at $312,000 after buying an additional 2,838 shares during the period. 63.59% of the stock is owned by institutional investors and hedge funds.

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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