What is Chardan Capital’s Estimate for SLDB FY2024 Earnings?

Solid Biosciences Inc. (NASDAQ:SLDB) – Research analysts at Chardan Capital lowered their FY2024 earnings estimates for shares of Solid Biosciences in a report released on Monday, November 11th. Chardan Capital analyst Y. Livshits now forecasts that the company will post earnings per share of ($2.91) for the year, down from their prior estimate of ($2.72). Chardan Capital currently has a “Buy” rating and a $15.00 target price on the stock. The consensus estimate for Solid Biosciences’ current full-year earnings is ($2.75) per share. Chardan Capital also issued estimates for Solid Biosciences’ FY2025 earnings at ($2.03) EPS.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.12).

Other research analysts have also recently issued research reports about the company. HC Wainwright reissued a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a research note on Thursday, November 7th. Barclays decreased their price target on Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th. William Blair upgraded Solid Biosciences to a “strong-buy” rating in a research report on Friday, August 30th. Finally, JPMorgan Chase & Co. cut their price objective on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Tuesday. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $15.14.

Solid Biosciences Stock Up 0.9 %

SLDB opened at $5.56 on Thursday. The firm has a market cap of $222.15 million, a price-to-earnings ratio of -1.83 and a beta of 1.92. Solid Biosciences has a fifty-two week low of $2.10 and a fifty-two week high of $15.05. The company’s 50-day moving average price is $6.67 and its 200 day moving average price is $7.69.

Institutional Investors Weigh In On Solid Biosciences

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in shares of Solid Biosciences by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 70,827 shares of the company’s stock valued at $402,000 after acquiring an additional 5,287 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Solid Biosciences by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 13,699 shares of the company’s stock worth $95,000 after buying an additional 7,719 shares during the period. American Century Companies Inc. grew its position in shares of Solid Biosciences by 39.9% in the second quarter. American Century Companies Inc. now owns 34,557 shares of the company’s stock valued at $196,000 after purchasing an additional 9,853 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in Solid Biosciences during the 3rd quarter worth $71,000. Finally, Point72 DIFC Ltd bought a new position in Solid Biosciences during the second quarter worth about $58,000. 81.46% of the stock is currently owned by institutional investors and hedge funds.

About Solid Biosciences

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.