Viridian Therapeutics, Inc. (NASDAQ:VRDN – Free Report) – Equities researchers at Leerink Partnrs cut their FY2023 earnings per share (EPS) estimates for Viridian Therapeutics in a research note issued to investors on Tuesday, November 14th. Leerink Partnrs analyst T. Smith now forecasts that the company will earn ($5.07) per share for the year, down from their previous forecast of ($5.06). The consensus estimate for Viridian Therapeutics’ current full-year earnings is ($5.30) per share. Leerink Partnrs also issued estimates for Viridian Therapeutics’ Q4 2023 earnings at ($1.12) EPS, FY2024 earnings at ($4.01) EPS and FY2025 earnings at ($4.33) EPS.
A number of other equities analysts have also recently issued reports on the company. JMP Securities cut their price target on Viridian Therapeutics from $42.00 to $38.00 and set a “market outperform” rating on the stock in a report on Tuesday. Stifel Nicolaus restated a “buy” rating and set a $40.00 price target on shares of Viridian Therapeutics in a report on Wednesday, September 13th. Wells Fargo & Company cut their price target on Viridian Therapeutics from $46.00 to $39.00 and set an “overweight” rating on the stock in a report on Wednesday, August 9th. Wedbush cut their price target on Viridian Therapeutics from $46.00 to $37.00 and set an “outperform” rating on the stock in a report on Tuesday, October 31st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $35.00 price target on shares of Viridian Therapeutics in a report on Tuesday. Fourteen research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $40.29.
Viridian Therapeutics Stock Performance
Shares of VRDN stock opened at $15.88 on Friday. The business’s 50 day simple moving average is $14.33 and its 200 day simple moving average is $19.57. Viridian Therapeutics has a one year low of $10.93 and a one year high of $39.00. The stock has a market capitalization of $835.13 million, a PE ratio of -3.11 and a beta of 0.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 13.93 and a quick ratio of 12.09.
Institutional Investors Weigh In On Viridian Therapeutics
A number of institutional investors and hedge funds have recently bought and sold shares of VRDN. Braidwell LP purchased a new stake in Viridian Therapeutics in the 2nd quarter valued at $28,698,000. Polar Capital Holdings Plc raised its position in Viridian Therapeutics by 190.9% in the 2nd quarter. Polar Capital Holdings Plc now owns 1,600,000 shares of the company’s stock valued at $38,064,000 after buying an additional 1,050,000 shares during the last quarter. Pictet Asset Management SA purchased a new stake in Viridian Therapeutics in the 1st quarter valued at $26,533,000. Alliancebernstein L.P. purchased a new stake in Viridian Therapeutics in the 4th quarter valued at $26,985,000. Finally, State Street Corp raised its position in Viridian Therapeutics by 159.0% in the 3rd quarter. State Street Corp now owns 1,178,549 shares of the company’s stock valued at $24,172,000 after buying an additional 723,484 shares during 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-002 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.
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