Solid Biosciences (NASDAQ:SLDB) Posts Earnings Results, Misses Expectations By $0.12 EPS

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

Solid Biosciences Stock Performance

NASDAQ SLDB traded down $0.37 during trading hours on Thursday, hitting $5.77. The company had a trading volume of 281,937 shares, compared to its average volume of 344,683. The firm has a market capitalization of $222.72 million, a price-to-earnings ratio of -1.75 and a beta of 1.92. Solid Biosciences has a 52 week low of $2.00 and a 52 week high of $15.05. The firm has a 50 day simple moving average of $6.91 and a 200 day simple moving average of $7.78.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. William Blair upgraded shares of Solid Biosciences to a “strong-buy” rating in a research note on Friday, August 30th. HC Wainwright reissued a “buy” rating and set a $16.00 price objective on shares of Solid Biosciences in a report on Thursday. Barclays lowered their target price on Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. upgraded Solid Biosciences from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $10.00 to $15.00 in a research note on Monday, July 15th. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Solid Biosciences currently has an average rating of “Buy” and a consensus 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.