Solid Biosciences (NASDAQ:SLDB) Issues Quarterly Earnings Results

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

Solid Biosciences Trading Up 3.8%

Shares of SLDB traded up $0.24 during trading hours on Wednesday, reaching $6.52. 1,057,635 shares of the stock traded hands, compared to its average volume of 1,359,118. The company has a market cap of $699.07 million, a P/E ratio of -3.41 and a beta of 2.65. The company’s 50-day moving average price is $7.69 and its two-hundred day moving average price is $7.65. Solid Biosciences has a 52-week low of $3.79 and a 52-week high of $11.45.

Analyst Upgrades and Downgrades

SLDB has been the topic of a number of recent research reports. Truist Financial increased their target price on Solid Biosciences from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, August 21st. Royal Bank Of Canada started coverage on shares of Solid Biosciences in a research report on Wednesday, September 16th. They set an “outperform” rating and a $18.00 price target for the company. HC Wainwright reaffirmed a “buy” rating on shares of Solid Biosciences in a research report on Tuesday, October 27th. UBS Group assumed coverage on Solid Biosciences in a research note on Wednesday, October 14th. They issued a “buy” rating and a $20.00 price target for the company. Finally, Loop Capital set a $25.00 price objective on Solid Biosciences in a report on Monday, September 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.