Solid Biosciences (NASDAQ:SLDB) Issues Earnings Results

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

Solid Biosciences Stock Up 6.9 %

NASDAQ SLDB traded up $0.58 on Thursday, hitting $8.93. 471,788 shares of the stock traded hands, compared to its average volume of 373,432. The stock has a 50-day moving average of $7.57 and a 200 day moving average of $9.10. Solid Biosciences has a twelve month low of $1.81 and a twelve month high of $15.05. The company has a market capitalization of $342.73 million, a P/E ratio of -2.25 and a beta of 1.84. The company has a current ratio of 14.94, a quick ratio of 14.94 and a debt-to-equity ratio of 0.01.

Analysts Set New Price Targets

SLDB has been the subject of a number of research reports. JPMorgan Chase & Co. raised Solid Biosciences from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $10.00 to $15.00 in a research report on Monday, July 15th. Barclays lowered 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. SVB Leerink raised Solid Biosciences from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a research report on Monday, June 24th. Piper Sandler reaffirmed an “overweight” rating and issued a $20.00 target price on shares of Solid Biosciences in a research report on Friday, June 21st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $16.00 target price on shares of Solid Biosciences in a research report on Wednesday. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target 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.