Wall Street brokerages forecast that Solid Biosciences Inc. (NASDAQ:SLDB – Get Rating) will post sales of $3.48 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Solid Biosciences’ earnings. The highest sales estimate is $3.50 million and the lowest is $3.43 million. The firm is scheduled to announce its next earnings results on Monday, March 21st.
According to Zacks, analysts expect that Solid Biosciences will report full year sales of $13.09 million for the current financial year, with estimates ranging from $10.50 million to $14.00 million. For the next fiscal year, analysts anticipate that the company will post sales of $12.73 million, with estimates ranging from $9.50 million to $15.70 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Solid Biosciences.
Separately, Zacks Investment Research cut Solid Biosciences from a “buy” rating to a “hold” rating in a report on Tuesday, January 11th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $9.00.
SLDB stock opened at $0.75 on Friday. The business has a fifty day moving average price of $1.26 and a 200 day moving average price of $1.90. Solid Biosciences has a fifty-two week low of $0.75 and a fifty-two week high of $11.03. The stock has a market capitalization of $83.09 million, a price-to-earnings ratio of -0.91 and a beta of 1.03.
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Institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA grew its stake in shares of Solid Biosciences by 129.6% during the third quarter. BNP Paribas Arbitrage SA now owns 14,912 shares of the company’s stock worth $36,000 after purchasing an additional 8,416 shares during the period. IPG Investment Advisors LLC bought a new position in Solid Biosciences during the third quarter worth about $43,000. Cubist Systematic Strategies LLC bought a new position in Solid Biosciences during the fourth quarter worth about $33,000. Invesco Ltd. bought a new position in Solid Biosciences during the second quarter worth about $73,000. Finally, Citigroup Inc. lifted its holdings in Solid Biosciences by 265.4% during the fourth quarter. Citigroup Inc. now owns 25,704 shares of the company’s stock worth $45,000 after acquiring an additional 18,670 shares in the last quarter. 69.76% of the stock is owned by institutional investors and hedge funds.
Solid Biosciences Company Profile (Get Rating)
Solid Biosciences, Inc engages in the development of treatments for patients with Duchenne muscular dystrophy (DMD). It develops gene therapies, disease modifying therapies, and assistive devices for the cure of DMD. The company was founded by Ilan Ganot, Andrey J. Zarur, Matthew Bennett Arnold, Annie Ganot, and Gilad David Hayeem in March 2013 and is headquartered in Cambridge, MA.
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