B. Riley Has Bearish Forecast for VRDN FY2024 Earnings

Viridian Therapeutics, Inc. (NASDAQ:VRDN) – B. Riley dropped their FY2024 earnings per share (EPS) estimates for Viridian Therapeutics in a research report issued to clients and investors on Monday, November 18th. B. Riley analyst K. Patel now expects that the company will earn ($4.01) per share for the year, down from their previous forecast 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.

A number of other research analysts also recently issued reports on VRDN. HC Wainwright upped their price target on Viridian Therapeutics from $27.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, November 14th. BTIG Research upped their price objective on Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Wedbush reiterated an “outperform” rating and issued a $42.00 price target on shares of Viridian Therapeutics in a research report on Monday, July 29th. The Goldman Sachs Group raised their target price on Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $28.00 price objective (down previously from $31.00) on shares of Viridian Therapeutics in a research note on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Viridian Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $36.33.

Viridian Therapeutics Stock Down 0.5 %

NASDAQ:VRDN opened at $20.24 on Wednesday. The firm has a 50-day simple moving average of $22.79 and a two-hundred day simple moving average of $17.09. Viridian Therapeutics has a fifty-two week low of $11.40 and a fifty-two week high of $27.20. The company has a debt-to-equity ratio of 0.04, a quick ratio of 18.55 and a current ratio of 18.55. The firm has a market cap of $1.60 billion, a P/E ratio of -4.70 and a beta of 1.10.

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

Hedge Funds Weigh In On Viridian Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Quest Partners LLC increased its holdings in shares of Viridian Therapeutics by 344.0% during the second quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock valued at $79,000 after acquiring an additional 4,692 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings 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 purchasing an additional 799 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Viridian Therapeutics during the 3rd quarter worth approximately $149,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Viridian Therapeutics by 24.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock worth $156,000 after buying an additional 2,359 shares during the period. Finally, AlphaCentric Advisors LLC lifted its position in shares of Viridian Therapeutics by 108.3% during the 2nd 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.

Insider Buying and Selling

In other news, 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, for a total transaction of $117,050.00. Following the completion of the acquisition, the chief operating officer now directly owns 6,000 shares of the company’s stock, valued at $140,460. The trade was a 500.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Stephen F. Mahoney bought 21,400 shares of the company’s stock in a transaction on Friday, September 27th. The shares were acquired at an average price of $23.33 per share, for a total transaction of $499,262.00. Following the completion of the acquisition, the chief executive officer now owns 21,400 shares in the company, valued at $499,262. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety 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.