Stock of the Day

August 9, 2019

Solid Biosciences (SLDB)

$8.72
-$0.33 (-3.6%)
Market Cap: $890.97M

About Solid Biosciences

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. It is also developing AVB-401 for the treatment of BAG3-mediated dilated cardiomyopathy; SGT-601 to treat a rare cardiac disease characterized by mutations in the gene that codes for cardiac troponin T protein, which helps coordinate contraction of the heart muscle; SGT-701 for treatment of rare inherited disease characterized by mutations in the RBM20 gene, a cardiac splicing factor that regulates alternative splicing, and codes for RNA binding motif protein 20; and AVB-202-TT to treat Friedreich's ataxia, as well as other drugs for the treatment of cardiac and other diseases. In addition, the company is involved in developing platform technologies, including capsid libraries and dual gene expression, a technology for packaging multiple transgenes into one capsid. The company has collaboration and license agreement with Ultragenyx Pharmaceutical Inc. to develop and commercialize new gene therapies for Duchenne; and a license agreement with the University of Washington, University of Missouri, and University of Florida. Solid Biosciences Inc. was incorporated in 2013 and is headquartered in Charlestown, Massachusetts.

Today's Trend

Solid Biosciences Inc. (NASDAQ: SLDB) is moving lower after HC Wainwright updated its model with a series of mostly lower earnings estimates for the next several years, which can pressure shares of a pre-profit biotech name. The brokerage reiterated its Buy rating and $25 price target, but the revisions suggest a slower path to profitability than previously expected.

  • HC Wainwright kept a Buy rating on Solid Biosciences and maintained a $25 price objective, signaling continued long-term upside confidence in NASDAQ:SLDB.
  • The analyst raised its FY2030 EPS estimate to $1.88 from $1.81, implying longer-dated profitability may still improve. Article Title
  • HC Wainwright cut earnings estimates across several near- and medium-term periods, including FY2026 to -$1.72 from -$1.43, FY2027 to -$1.72 from -$1.36, and FY2028 to -$1.33 from -$0.60, which may be weighing on the stock. Article Title
  • Shorter-term forecasts were also reduced, with Q2 2026 through Q4 2027 EPS now expected in the -$0.41 to -$0.44 range, suggesting continued losses over the next several quarters. Article Title

Overall, SLDB appears to be declining because investors are reacting more to the analyst’s lower profit outlook than to the unchanged bullish rating.

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