FY2024 EPS Forecast for Viridian Therapeutics Cut by Analyst

Viridian Therapeutics, Inc. (NASDAQ:VRDN) – Analysts at B. Riley reduced their FY2024 earnings per share estimates for Viridian Therapeutics in a report released on Monday, November 18th. B. Riley analyst K. Patel now anticipates that the company will post earnings of ($4.01) per share for the year, down from their prior estimate of ($3.80). The consensus estimate for Viridian Therapeutics’ current full-year earnings is ($4.01) per share. B. Riley also issued estimates for Viridian Therapeutics’ FY2025 earnings at ($4.82) EPS, FY2026 earnings at ($4.91) EPS, FY2027 earnings at ($3.67) EPS and FY2028 earnings at ($2.23) EPS.

Several other equities analysts have also issued reports on VRDN. BTIG Research increased their target price on Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Royal Bank of Canada restated an “outperform” rating and issued a $44.00 price target on shares of Viridian Therapeutics in a research note on Thursday, September 19th. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 target price on shares of Viridian Therapeutics in a report on Wednesday, November 13th. The Goldman Sachs Group boosted their price objective on Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Finally, Wedbush reiterated an “outperform” rating and issued a $42.00 price target on shares of Viridian Therapeutics in a research note on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.33.

Viridian Therapeutics Trading Down 0.5 %

Shares of VRDN stock opened at $20.24 on Wednesday. The company has a 50-day moving average of $22.79 and a two-hundred day moving average of $17.09. The company has a debt-to-equity ratio of 0.04, a current ratio of 18.55 and a quick ratio of 18.55. Viridian Therapeutics has a 1-year low of $11.40 and a 1-year high of $27.20. The firm has a market cap of $1.60 billion, a PE ratio of -4.70 and a beta of 1.10.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.04). Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. The firm had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $0.08 million.

Institutional Investors Weigh In On Viridian Therapeutics

Several hedge funds have recently made changes to their positions in VRDN. Ameritas Investment Partners Inc. boosted its position in Viridian Therapeutics by 19.2% in the 1st 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 during the last quarter. Quest Partners LLC grew its holdings in Viridian Therapeutics by 344.0% in the 2nd quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock worth $79,000 after buying an additional 4,692 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Viridian Therapeutics in the third quarter valued at approximately $149,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Viridian Therapeutics in the 3rd quarter worth $208,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Viridian Therapeutics by 24.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock worth $156,000 after purchasing an additional 2,359 shares in the last quarter.

Insider Activity

In related news, Director Fairmount Funds Management Llc purchased 1,600,000 shares of the company’s stock in a transaction on Friday, September 13th. The stock was bought at an average price of $18.75 per share, with a total value of $30,000,000.00. Following the completion of the transaction, the director now owns 3,445,813 shares of the company’s stock, valued at approximately $64,608,993.75. This represents a 86.68 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Thomas W. Beetham acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average price of $23.41 per share, with a total value of $117,050.00. Following 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. Insiders acquired 1,626,400 shares of company stock valued at $30,616,312 in the last three months. 0.65% of the stock is currently owned by company insiders.

Viridian Therapeutics Company Profile

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.