Wedbush Has Pessimistic Outlook of VRDN FY2024 Earnings

Viridian Therapeutics, Inc. (NASDAQ:VRDN) – Investment analysts at Wedbush cut their FY2024 earnings estimates for shares of Viridian Therapeutics in a research report issued on Tuesday, November 12th. Wedbush analyst L. Chico now forecasts that the company will post earnings per share of ($3.97) for the year, down from their previous forecast of ($3.77). Wedbush has a “Outperform” rating and a $42.00 price target on the stock. The consensus estimate for Viridian Therapeutics’ current full-year earnings is ($3.94) per share. Wedbush also issued estimates for Viridian Therapeutics’ Q4 2024 earnings at ($0.99) EPS, Q1 2025 earnings at ($1.02) EPS, Q2 2025 earnings at ($1.05) EPS, Q3 2025 earnings at ($0.99) EPS, Q4 2025 earnings at ($1.02) EPS, FY2025 earnings at ($4.08) EPS, FY2026 earnings at ($4.48) EPS and FY2027 earnings at $3.81 EPS.

Several other research analysts also recently commented on VRDN. The Goldman Sachs Group lifted their target price on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. BTIG Research boosted their price objective on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Oppenheimer restated an “outperform” rating and set a $28.00 price objective (down previously from $31.00) on shares of Viridian Therapeutics in a report on Monday, August 12th. HC Wainwright boosted their price objective on shares of Viridian Therapeutics from $27.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $44.00 price objective on shares of Viridian Therapeutics in a report on Thursday, September 19th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.33.

Viridian Therapeutics Stock Performance

Shares of VRDN opened at $21.64 on Friday. The company has a market capitalization of $1.71 billion, a PE ratio of -5.02 and a beta of 1.10. Viridian Therapeutics has a one year low of $11.40 and a one year high of $27.20. The company has a debt-to-equity ratio of 0.05, a current ratio of 15.82 and a quick ratio of 15.82. The company’s fifty day moving average price is $22.35 and its 200 day moving average price is $16.89.

Insider Activity

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc bought 1,600,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were acquired at an average cost of $18.75 per share, for a total transaction of $30,000,000.00. Following the transaction, the director now owns 3,445,813 shares in the company, valued at approximately $64,608,993.75. The trade was a 86.68 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Thomas W. Beetham bought 5,000 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were acquired at an average price of $23.41 per share, for a total transaction of $117,050.00. Following the completion of the transaction, the chief operating officer now owns 6,000 shares in the company, valued at $140,460. This represents a 500.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 1,626,400 shares of company stock worth $30,616,312. Corporate insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Viridian Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VRDN. Quest Partners LLC boosted its position in Viridian Therapeutics by 344.0% in the second quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock valued at $79,000 after buying an additional 4,692 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in Viridian Therapeutics by 19.2% in the first quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock valued at $87,000 after buying an additional 799 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Viridian Therapeutics in the third quarter valued at about $149,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Viridian Therapeutics by 24.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock valued at $156,000 after buying an additional 2,359 shares in the last quarter. Finally, AlphaCentric Advisors LLC boosted its position in Viridian Therapeutics by 108.3% in the second quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock valued at $163,000 after buying an additional 6,500 shares in the last quarter.

About Viridian Therapeutics

Viridian Therapeutics, Inc, a biotechnology company, discover and develops treatments for serious and rare diseases. The company's product pipeline includes VRDN-001, a monoclonal antibody targeting insulin-like growth factor-1 receptor that is in Phase 3 clinical trial for the treatment of thyroid eye disease (TED); and VRDN-003, a next generation IGF-1R humanized monoclonal antibodies targeting IGF-1R and incorporating half-life extension technology for the treatment of TED.