Wedbush Has Pessimistic Outlook of VRDN FY2024 Earnings

Viridian Therapeutics, Inc. (NASDAQ:VRDN) – Stock analysts at Wedbush lowered their FY2024 earnings estimates for Viridian Therapeutics in a research report issued on Tuesday, November 12th. Wedbush analyst L. Chico now forecasts that the company will post earnings of ($3.97) per share for the year, down from their prior forecast of ($3.77). Wedbush has a “Outperform” rating and a $42.00 price objective 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.

A number of other analysts have also recently weighed in on VRDN. Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Viridian Therapeutics in a report on Wednesday. Oppenheimer restated an “outperform” rating and issued a $28.00 price target (down previously from $31.00) on shares of Viridian Therapeutics in a research note on Monday, August 12th. BTIG Research boosted their price objective on Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. HC Wainwright increased their price objective on 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 reaffirmed an “outperform” rating and set a $44.00 target price on shares of Viridian Therapeutics in a research note on Thursday, September 19th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Viridian Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $36.33.

Viridian Therapeutics Stock Performance

Viridian Therapeutics stock opened at $21.64 on Friday. Viridian Therapeutics has a 12 month low of $11.40 and a 12 month high of $27.20. The company has a market cap of $1.71 billion, a PE ratio of -5.02 and a beta of 1.10. 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 has a fifty day moving average price of $22.35 and a two-hundred day moving average price of $16.89.

Institutional Investors Weigh In On Viridian Therapeutics

A number of institutional investors have recently modified their holdings of VRDN. FMR LLC boosted its stake in shares of Viridian Therapeutics by 16.8% during the 3rd quarter. FMR LLC now owns 11,183,478 shares of the company’s stock valued at $254,424,000 after buying an additional 1,610,130 shares during the period. Novo Holdings A S boosted its stake in shares of Viridian Therapeutics by 81.8% during the 2nd quarter. Novo Holdings A S now owns 2,000,000 shares of the company’s stock valued at $26,020,000 after buying an additional 900,000 shares during the period. Maverick Capital Ltd. boosted its stake in shares of Viridian Therapeutics by 22.9% during the 2nd quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock valued at $43,036,000 after buying an additional 615,531 shares during the period. Candriam S.C.A. boosted its stake in shares of Viridian Therapeutics by 167.8% during the 2nd quarter. Candriam S.C.A. now owns 749,804 shares of the company’s stock valued at $9,754,000 after buying an additional 469,804 shares during the period. Finally, Great Point Partners LLC boosted its stake in shares of Viridian Therapeutics by 50.0% during the 3rd quarter. Great Point Partners LLC now owns 750,000 shares of the company’s stock valued at $17,062,000 after buying an additional 250,000 shares during the period.

Insider Buying and Selling

In other news, Director Fairmount Funds Management Llc acquired 1,600,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was purchased at an average price of $18.75 per share, with a total value of $30,000,000.00. Following the purchase, the director now owns 3,445,813 shares of the company’s stock, valued at approximately $64,608,993.75. This trade represents a 86.68 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Thomas W. Beetham acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average cost of $23.41 per share, with a total value of $117,050.00. Following the purchase, the chief operating officer now directly owns 6,000 shares in the company, valued at approximately $140,460. This trade represents a 500.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 1,626,400 shares of company stock valued at $30,616,312. Company insiders own 0.65% of the company’s stock.

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.