Equities Analysts Issue Forecasts for VRDN FY2024 Earnings

Viridian Therapeutics, Inc. (NASDAQ:VRDN) – Analysts at HC Wainwright raised their FY2024 EPS estimates for Viridian Therapeutics in a research report issued to clients and investors on Wednesday, November 13th. HC Wainwright analyst D. Tsao now anticipates that the company will post earnings of ($3.96) per share for the year, up from their previous forecast of ($4.02). HC Wainwright currently has a “Buy” rating and a $34.00 price objective on the stock. The consensus estimate for Viridian Therapeutics’ current full-year earnings is ($4.01) per share. HC Wainwright also issued estimates for Viridian Therapeutics’ Q4 2024 earnings at ($0.99) EPS, Q2 2025 earnings at ($1.01) EPS, Q3 2025 earnings at ($1.08) EPS, Q4 2025 earnings at ($0.99) EPS and FY2025 earnings at ($4.06) EPS.

Several other research firms have also recently weighed in on VRDN. The Goldman Sachs Group increased their price objective on Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. BTIG Research boosted their price objective on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 target price on shares of Viridian Therapeutics in a report on Wednesday, November 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $44.00 price target on shares of Viridian Therapeutics in a research note on Thursday, September 19th. Finally, Wedbush restated an “outperform” rating and set a $42.00 price objective on shares of Viridian Therapeutics in a research note on Monday, July 29th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.33.

Viridian Therapeutics Stock Performance

NASDAQ:VRDN opened at $20.14 on Monday. The stock has a 50 day simple moving average of $22.64 and a 200 day simple moving average of $17.02. The stock has a market cap of $1.60 billion, a P/E ratio of -4.67 and a beta of 1.10. Viridian Therapeutics has a 1-year low of $11.40 and a 1-year high of $27.20. The company has a current ratio of 18.55, a quick ratio of 15.82 and a debt-to-equity ratio of 0.04.

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

Insider Buying and Selling

In related news, CEO Stephen F. Mahoney bought 21,400 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were purchased at an average price of $23.33 per share, with a total value of $499,262.00. Following the completion of the purchase, the chief executive officer now owns 21,400 shares in the company, valued at $499,262. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, COO Thomas W. Beetham purchased 5,000 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was purchased at an average price of $23.41 per share, with a total value of $117,050.00. Following the completion of the purchase, the chief operating officer now directly owns 6,000 shares in the company, valued at $140,460. The trade was a 500.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 1,626,400 shares of company stock worth $30,616,312 in the last ninety days. 0.65% of the stock is owned by insiders.

Hedge Funds Weigh In On Viridian Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC grew its holdings in shares of Viridian Therapeutics by 16.8% during the third quarter. FMR LLC now owns 11,183,478 shares of the company’s stock worth $254,424,000 after purchasing an additional 1,610,130 shares during the last quarter. Maverick Capital Ltd. boosted its position in Viridian Therapeutics by 22.9% during the 2nd quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock worth $43,036,000 after buying an additional 615,531 shares during the period. Vanguard Group Inc. increased its position in Viridian Therapeutics by 7.8% in the 1st quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company’s stock valued at $56,632,000 after acquiring an additional 233,331 shares during the period. Novo Holdings A S increased its position in Viridian Therapeutics by 19.3% in the 3rd quarter. Novo Holdings A S now owns 2,385,000 shares of the company’s stock valued at $54,259,000 after acquiring an additional 385,000 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Viridian Therapeutics by 5.8% during the third quarter. Geode Capital Management LLC now owns 1,493,311 shares of the company’s stock valued at $33,979,000 after acquiring an additional 81,951 shares during the last quarter.

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.