Wedbush Predicts Reduced Earnings for Viridian Therapeutics

Viridian Therapeutics, Inc. (NASDAQ:VRDN) – Analysts at Wedbush cut their FY2029 EPS estimates for shares of Viridian Therapeutics in a research report issued on Monday, October 27th. Wedbush analyst L. Chico now forecasts that the company will post earnings per share of $6.78 for the year, down from their previous forecast of $7.23. The consensus estimate for Viridian Therapeutics’ current full-year earnings is ($4.03) per share.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($1.00) EPS for the quarter, hitting the consensus estimate of ($1.00). The company had revenue of $0.08 million for the quarter, compared to the consensus estimate of $0.05 million. Viridian Therapeutics had a negative net margin of 112,806.88% and a negative return on equity of 78.95%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.81) EPS.

Several other research analysts have also recently issued reports on VRDN. The Goldman Sachs Group increased their target price on shares of Viridian Therapeutics from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viridian Therapeutics in a report on Wednesday, October 8th. Royal Bank Of Canada dropped their target price on shares of Viridian Therapeutics from $45.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, August 7th. Jefferies Financial Group started coverage on shares of Viridian Therapeutics in a report on Monday, August 25th. They set a “buy” rating and a $44.00 target price on the stock. Finally, Oppenheimer increased their target price on shares of Viridian Therapeutics from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $35.38.

Viridian Therapeutics Stock Down 0.7%

Shares of Viridian Therapeutics stock opened at $23.01 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 11.01 and a quick ratio of 11.01. Viridian Therapeutics has a 1 year low of $9.90 and a 1 year high of $27.20. The firm’s 50-day moving average is $20.45 and its two-hundred day moving average is $16.98. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of -6.01 and a beta of 0.49.

Hedge Funds Weigh In On Viridian Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Amalgamated Bank raised its position in shares of Viridian Therapeutics by 49.7% in the 1st quarter. Amalgamated Bank now owns 2,531 shares of the company’s stock valued at $34,000 after purchasing an additional 840 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Viridian Therapeutics by 1.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company’s stock valued at $669,000 after purchasing an additional 876 shares during the last quarter. Swiss National Bank raised its position in shares of Viridian Therapeutics by 1.3% in the 2nd quarter. Swiss National Bank now owns 108,900 shares of the company’s stock valued at $1,522,000 after purchasing an additional 1,400 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Viridian Therapeutics by 332.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,940 shares of the company’s stock valued at $42,000 after purchasing an additional 1,491 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC raised its position in shares of Viridian Therapeutics by 2.7% in the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 59,281 shares of the company’s stock valued at $799,000 after purchasing an additional 1,570 shares during the last quarter.

Insider Buying and Selling at Viridian Therapeutics

In other news, Director Fairmount Funds Management Llc purchased 454,545 shares of the stock in a transaction dated Thursday, October 23rd. The shares were acquired at an average cost of $22.00 per share, for a total transaction of $9,999,990.00. Following the acquisition, the director owned 3,914,458 shares of the company’s stock, valued at approximately $86,118,076. This represents a 13.14% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.58% 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.