Solid Biosciences (NASDAQ:SLDB) Issues Earnings Results, Beats Estimates By $0.01 EPS

Solid Biosciences (NASDAQ:SLDB) released its earnings results on Wednesday. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.01, Zacks reports.

Solid Biosciences Stock Performance

SLDB traded up $0.24 during trading hours on Wednesday, reaching $6.52. The company’s stock had a trading volume of 1,056,577 shares, compared to its average volume of 1,358,261. Solid Biosciences has a 52 week low of $3.79 and a 52 week high of $11.45. The company’s 50-day moving average is $7.69 and its 200-day moving average is $7.65. The firm has a market cap of $699.07 million, a PE ratio of -3.41 and a beta of 2.65.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SLDB shares. Loop Capital set a $25.00 target price on Solid Biosciences in a research report on Monday, September 14th. HC Wainwright restated a “buy” rating on shares of Solid Biosciences in a report on Tuesday, October 27th. Truist Financial lifted their price objective on shares of Solid Biosciences from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, August 21st. Cantor Fitzgerald boosted their price objective on shares of Solid Biosciences from $16.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday, August 27th. Finally, UBS Group initiated coverage on shares of Solid Biosciences in a report on Wednesday, October 14th. They issued a “buy” rating and a $20.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.54.

Solid Biosciences Company Profile

Solid Biosciences Inc (NASDAQ: SLDB) is a biotechnology company focused on developing gene therapies for neuromuscular and other serious genetic diseases. The company uses adeno-associated virus (AAV) delivery technologies and genetic medicine approaches to develop treatments intended to address the underlying causes of disease.

Its lead investigational program, SGT-003, is being developed as a gene therapy for Duchenne muscular dystrophy, a severe X-linked muscle-wasting disorder. Solid Biosciences also has additional preclinical and clinical programs targeting other neuromuscular conditions, including diseases associated with defects in muscle proteins.