$3.57 million in sales expected for Solid Biosciences Inc. (NASDAQ:SLDB) this quarter
Equity research analysts predict that Solid Biosciences Inc. (NASDAQ:SLDB – Get a rating) will report $3.57 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made earnings estimates for Solid Biosciences. The highest sales estimate is $3.90 million and the lowest is $3.31 million. Solid Biosciences reported sales of $3.34 million in the same quarter last year, suggesting a positive year-over-year growth rate of 6.9%. The company is expected to announce its next earnings report on Monday, January 1.
On average, analysts expect Solid Biosciences to report annual revenue of $12.73 million for the current fiscal year, with estimates ranging from $9.50 to $15.70 million. For next year, analysts expect the company to record sales of $17.85 million, with estimates ranging from $15.70 million to $20.00 million. Zacks Investment Research sales calculations are an average average based on a survey of sell-side research firms that provide coverage for Solid Biosciences.
Solid Biosciences (NASDAQ:SLDB – Get a rating) last released its quarterly earnings data on Monday, March 14. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analyst consensus estimates of ($0.19) by $0.03. Solid Biosciences had a negative net margin of 530.02% and a negative return on equity of 31.30%.
Separately, Zacks Investment Research moved shares of Solid Biosciences from a “hold” rating to a “buy” rating and set a price target of $1.25 for the company in a Friday, March 18 research report. One research analyst gave the stock a hold rating and four gave the company a buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $7.85.
In other Solid Biosciences news, COO Joel Solomon Zev Schneider sold 30,504 shares of Solid Biosciences in a trade on Monday, March 14. The shares were sold at an average price of $1.10, for a total value of $33,554.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. In the past ninety days, insiders have sold 53,632 shares of the company valued at $59,004. 24.90% of the shares are currently held by company insiders.
Institutional investors have recently increased or reduced their stake in the company. BNP Paribas Arbitrage SA increased its stake in Solid Biosciences by 129.6% in the third quarter. BNP Paribas Arbitrage SA now owns 14,912 shares in the company worth $36,000 after purchasing an additional 8,416 shares during the period. IPG Investment Advisors LLC acquired a new position in shares of Solid Biosciences during the third quarter worth $43,000. Cubist Systematic Strategies LLC acquired a new position in shares of Solid Biosciences during the fourth quarter worth $33,000. Invesco Ltd. acquired a new position in shares of Solid Biosciences during the second quarter worth $73,000. Finally, Citigroup Inc. increased its shareholding in Solid Biosciences by 265.4% during the fourth quarter. Citigroup Inc. now owns 25,704 shares of the company valued at $45,000 after acquiring an additional 18,670 shares during the period. 69.76% of the shares are held by hedge funds and other institutional investors.
SLDB opened at $1.28 on Friday. Solid Biosciences has a 52 week low of $0.72 and a 52 week high of $6.07. The company has a market capitalization of $141.41 million, a P/E ratio of -1.86 and a beta of 1.13. The company’s 50-day moving average is $1.10 and its 200-day moving average is $1.74.
Solid Biosciences Company Profile (Get a rating)
Solid Biosciences, Inc is committed to 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 based in Cambridge, MA.
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