Solid Biosciences (NASDAQ:SLDB) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Solid Biosciences (NASDAQ:SLDB) posted its quarterly earnings results on Tuesday. The company reported ($0.61) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.66) by $0.05, Yahoo Finance reports.

Solid Biosciences Stock Up 10.8 %

NASDAQ:SLDB traded up $0.79 during trading hours on Wednesday, reaching $8.08. 260,344 shares of the company traded hands, compared to its average volume of 370,821. The business’s 50-day moving average price is $7.55 and its two-hundred day moving average price is $9.10. The stock has a market capitalization of $310.11 million, a P/E ratio of -2.11 and a beta of 1.84. Solid Biosciences has a 1 year low of $1.81 and a 1 year high of $15.05. The company has a current ratio of 14.94, a quick ratio of 14.94 and a debt-to-equity ratio of 0.01.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SLDB shares. SVB Leerink upgraded Solid Biosciences from a “market perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a research report on Monday, June 24th. JPMorgan Chase & Co. upgraded Solid Biosciences from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $10.00 to $15.00 in a research report on Monday, July 15th. Barclays cut their price objective on Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday. Piper Sandler restated an “overweight” rating and issued a $20.00 target price on shares of Solid Biosciences in a research note on Friday, June 21st. Finally, Leerink Partnrs upgraded Solid Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 24th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $15.67.

Solid Biosciences Company Profile

Solid Biosciences Inc, a life science company, develops therapies for neuromuscular and cardiac diseases in the United States. The company's lead product candidate is SGT-003, a gene transfer candidate for the treatment of Duchenne muscular dystrophy; and SGT-501 to treat Catecholaminergic polymorphic ventricular tachycardia.