Oppenheimer Comments on Viridian Therapeutics, Inc.’s Q1 2023 Earnings (NASDAQ:VRDN)

Viridian Therapeutics, Inc. (NASDAQ:VRDN – Get Rating) – Equities research analysts at Oppenheimer cut their Q1 2023 earnings per share (EPS) estimates for Viridian Therapeutics in a research report issued to clients and investors on Wednesday, March 8th. Oppenheimer analyst L. Gershell now forecasts that the company will post earnings per share of ($0.82) for the quarter, down from their previous estimate of ($0.77). The consensus estimate for Viridian Therapeutics’ current full-year earnings is ($4.08) per share. Oppenheimer also issued estimates for Viridian Therapeutics’ Q2 2023 earnings at ($0.85) EPS, Q3 2023 earnings at ($0.83) EPS, Q4 2023 earnings at ($0.86) EPS, FY2023 earnings at ($3.37) EPS, FY2024 earnings at ($3.12) EPS, FY2025 earnings at ($2.17) EPS and FY2026 earnings at ($0.70) EPS.

A number of other equities research analysts also recently commented on VRDN. B. Riley lifted their target price on Viridian Therapeutics from $40.00 to $46.00 in a report on Tuesday, January 10th. Cowen assumed coverage on Viridian Therapeutics in a report on Monday, December 19th. They set an “outperform” rating and a $45.00 target price for the company. Wedbush lifted their target price on Viridian Therapeutics to $43.00 in a report on Thursday, November 17th. Credit Suisse Group assumed coverage on Viridian Therapeutics in a report on Friday, December 16th. They set an “outperform” rating and a $51.00 target price for the company. Finally, Cowen assumed coverage on Viridian Therapeutics in a report on Monday, December 19th. They set an “outperform” rating for the company. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $45.10.

Viridian Therapeutics Price Performance

Shares of NASDAQ VRDN opened at $28.41 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 17.35 and a current ratio of 17.35. Viridian Therapeutics has a fifty-two week low of $9.47 and a fifty-two week high of $39.00. The company has a market cap of $808.55 million, a PE ratio of -7.05 and a beta of 0.95. The business has a 50-day simple moving average of $33.72 and a two-hundred day simple moving average of $26.61.

Viridian Therapeutics (NASDAQ:VRDN – Get Rating) last issued its quarterly earnings results on Wednesday, March 8th. The company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.41). The business had revenue of $0.11 million during the quarter, compared to analyst estimates of $0.46 million. Viridian Therapeutics had a negative return on equity of 108.29% and a negative net margin of 7,329.23%. Viridian Therapeutics’s revenue was down 50.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.32) EPS.

Insider Buying and Selling at Viridian Therapeutics

In other Viridian Therapeutics news, General Counsel Lara Meisner sold 15,656 shares of the business’s stock in a transaction that occurred on Wednesday, December 14th. The stock was sold at an average price of $28.12, for a total value of $440,246.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Jonathan Violin sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $36.80, for a total value of $1,840,000.00. Following the completion of the sale, the insider now directly owns 430,905 shares in the company, valued at $15,857,304. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Lara Meisner sold 15,656 shares of the business’s stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $28.12, for a total value of $440,246.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 180,744 shares of company stock valued at $6,199,922. 4.48% of the stock is owned by company insiders.

Institutional Trading of Viridian Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its position in shares of Viridian Therapeutics by 189.0% in the third quarter. Tower Research Capital LLC TRC now owns 8,173 shares of the company’s stock valued at $167,000 after buying an additional 5,345 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Viridian Therapeutics in the 3rd quarter valued at $77,000. SG Americas Securities LLC acquired a new stake in Viridian Therapeutics during the 3rd quarter worth $170,000. VR Adviser LLC grew its holdings in shares of Viridian Therapeutics by 15.0% during the third quarter. VR Adviser LLC now owns 2,130,308 shares of the company’s stock worth $43,693,000 after buying an additional 277,389 shares in the last quarter. Finally, Alps Advisors Inc. acquired a new stake in shares of Viridian Therapeutics in the second quarter valued at about $192,000.

Viridian Therapeutics Company Profile

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Viridian Therapeutics, Inc is a clinical stage biopharmaceutical company, which engages in the development of proprietary RNA-targeted therapeutics. Its product candidates include Cobomarsen, which treats patients with certain cancers, including cutaneous T-cell lymphoma and adult T-cell leukemia/lymphoma, and Remlarsen and MRG-229, which are made for the treatment of patients with pathological fibrosis.