Solid Biosciences (NASDAQ:SLDB) Releases Earnings Results, Misses Estimates By $0.12 EPS

Solid Biosciences (NASDAQ:SLDB) issued its quarterly earnings data 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 Trading Down 6.0 %

Shares of NASDAQ SLDB traded down $0.37 during mid-day trading on Thursday, reaching $5.77. The company had a trading volume of 281,937 shares, compared to its average volume of 344,683. The company has a 50-day moving average price of $6.91 and a two-hundred day moving average price of $7.78. The stock has a market cap of $222.72 million, a PE ratio of -1.75 and a beta of 1.92. Solid Biosciences has a 1-year low of $2.00 and a 1-year high of $15.05.

Analyst Upgrades and Downgrades

SLDB has been the subject of a number of research analyst reports. William Blair raised shares of Solid Biosciences to a “strong-buy” rating in a research note on Friday, August 30th. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price target on shares of Solid Biosciences in a research note on Thursday. JPMorgan Chase & Co. raised Solid Biosciences from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $10.00 to $15.00 in a research note on Monday, July 15th. Finally, Barclays cut their price objective on Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating for the company in a report on Wednesday, August 14th. 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 MarketBeat, the company 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.