B. Riley Cuts Earnings Estimates for Viridian Therapeutics

Viridian Therapeutics, Inc. (NASDAQ:VRDN) – Equities researchers at B. Riley reduced their FY2024 earnings per share estimates for shares of Viridian Therapeutics in a note issued to investors on Monday, November 18th. B. Riley analyst K. Patel now expects that the company will post earnings of ($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.

Several other analysts have also issued reports on the stock. HC Wainwright lifted their target price on shares of Viridian Therapeutics from $27.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. BTIG Research increased their price objective on Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a research note 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 research note on Wednesday, November 13th. Wedbush reiterated an “outperform” rating and issued a $42.00 target price on shares of Viridian Therapeutics in a research report on Monday, July 29th. Finally, Oppenheimer restated an “outperform” rating and set a $28.00 price target (down from $31.00) on shares of Viridian Therapeutics in a research report on Monday, August 12th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $36.33.

Viridian Therapeutics Stock Performance

Shares of NASDAQ VRDN opened at $19.79 on Wednesday. Viridian Therapeutics has a 1 year low of $11.40 and a 1 year 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 company’s fifty day moving average price is $22.79 and its 200 day moving average price is $17.11. The company has a market capitalization of $1.57 billion, a PE ratio of -4.59 and a beta of 1.10.

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

Insider Buying and Selling at Viridian Therapeutics

In related news, CEO Stephen F. Mahoney acquired 21,400 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was bought at an average price of $23.33 per share, with a total value of $499,262.00. Following the purchase, the chief executive officer now directly owns 21,400 shares in the company, valued at $499,262. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Fairmount Funds Management Llc purchased 1,600,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were bought at an average cost of $18.75 per share, with a total value of $30,000,000.00. Following the transaction, the director now directly owns 3,445,813 shares of the company’s stock, valued at $64,608,993.75. The trade was a 86.68 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 1,626,400 shares of company stock valued at $30,616,312. Corporate insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Quest Partners LLC increased its stake in Viridian Therapeutics by 344.0% during the 2nd quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock worth $79,000 after buying an additional 4,692 shares during the period. Ameritas Investment Partners Inc. lifted its stake in shares of Viridian Therapeutics by 19.2% in the first quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock worth $87,000 after acquiring an additional 799 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Viridian Therapeutics in the third quarter valued at about $149,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Viridian Therapeutics by 24.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock valued at $156,000 after purchasing an additional 2,359 shares in the last quarter. Finally, AlphaCentric Advisors LLC grew its stake in 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 purchasing an additional 6,500 shares in 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-003, a next generation IGF-1R humanized monoclonal antibodies targeting IGF-1R and incorporating half-life extension technology for the treatment of TED.