FY2024 EPS Forecast for Viridian Therapeutics Cut by Analyst

Viridian Therapeutics, Inc. (NASDAQ:VRDN) – Equities researchers at Wedbush lowered their FY2024 EPS estimates for Viridian Therapeutics in a research note issued to investors on Tuesday, November 12th. Wedbush analyst L. Chico now expects that the company will earn ($3.97) per share for the year, down from their previous estimate of ($3.77). Wedbush has a “Outperform” rating and a $42.00 price objective on the stock. The consensus estimate for Viridian Therapeutics’ current full-year earnings is ($3.94) per share. Wedbush also issued estimates for Viridian Therapeutics’ Q4 2024 earnings at ($0.99) EPS, Q1 2025 earnings at ($1.02) EPS, Q2 2025 earnings at ($1.05) EPS, Q3 2025 earnings at ($0.99) EPS, Q4 2025 earnings at ($1.02) EPS, FY2025 earnings at ($4.08) EPS, FY2026 earnings at ($4.48) EPS and FY2027 earnings at $3.81 EPS.

VRDN has been the subject of a number of other research reports. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price objective on shares of Viridian Therapeutics in a research report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $44.00 price objective on shares of Viridian Therapeutics in a research report on Thursday, September 19th. Oppenheimer reiterated an “outperform” rating and issued a $28.00 price objective (down previously from $31.00) on shares of Viridian Therapeutics in a research report on Monday, August 12th. The Goldman Sachs Group upped their price objective on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Finally, HC Wainwright upped their price target on shares of Viridian Therapeutics from $27.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Viridian Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $36.33.

Viridian Therapeutics Trading Down 6.9 %

Shares of Viridian Therapeutics stock opened at $20.14 on Friday. The firm has a 50-day simple moving average of $22.64 and a two-hundred day simple moving average of $16.97. The company 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 fifty-two week low of $11.40 and a fifty-two week high of $27.20. The company has a debt-to-equity ratio of 0.05, a quick ratio of 15.82 and a current ratio of 15.82.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. lifted its position in shares of Viridian Therapeutics by 62.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 178,855 shares of the company’s stock worth $2,327,000 after buying an additional 69,035 shares during the last quarter. Rhumbline Advisers lifted its position in Viridian Therapeutics by 34.5% in the 2nd quarter. Rhumbline Advisers now owns 90,826 shares of the company’s stock valued at $1,182,000 after purchasing an additional 23,305 shares during the last quarter. Vanguard Group Inc. lifted 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 purchasing an additional 233,331 shares during the last quarter. Candriam S.C.A. lifted its position in Viridian Therapeutics by 167.8% in the 2nd quarter. Candriam S.C.A. now owns 749,804 shares of the company’s stock valued at $9,754,000 after purchasing an additional 469,804 shares during the last quarter. Finally, Novo Holdings A S lifted 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 purchasing an additional 385,000 shares during the last quarter.

Insider Activity at Viridian Therapeutics

In related news, COO Thomas W. Beetham acquired 5,000 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was bought at an average cost of $23.41 per share, with a total value of $117,050.00. Following the acquisition, the chief operating officer now directly owns 6,000 shares in the company, valued at approximately $140,460. The trade was a 500.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Fairmount Funds Management Llc acquired 1,600,000 shares of the firm’s stock in a transaction 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 completion of the acquisition, the director now owns 3,445,813 shares in the company, valued at $64,608,993.75. This represents a 86.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 1,626,400 shares of company stock valued at $30,616,312. Corporate insiders own 0.65% 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.