What is Leerink Partnrs’ Forecast for VRDN FY2024 Earnings?

Viridian Therapeutics, Inc. (NASDAQ:VRDN) – Investment analysts at Leerink Partnrs lowered their FY2024 earnings per share (EPS) estimates for Viridian Therapeutics in a note issued to investors on Tuesday, November 12th. Leerink Partnrs analyst T. Smith now expects that the company will post earnings of ($3.85) per share for the year, down from their previous estimate of ($3.83). The consensus estimate for Viridian Therapeutics’ current full-year earnings is ($3.94) per share. Leerink Partnrs also issued estimates for Viridian Therapeutics’ Q4 2024 earnings at ($0.88) EPS, FY2025 earnings at ($3.71) EPS, FY2026 earnings at ($3.05) EPS, FY2027 earnings at ($1.47) EPS and FY2028 earnings at $1.26 EPS.

Several other research analysts have also recently weighed in on the company. BTIG Research boosted their price target on Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. The Goldman Sachs Group boosted their price target on Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Needham & Company LLC restated a “buy” rating and issued a $38.00 price target on shares of Viridian Therapeutics in a research note on Wednesday. HC Wainwright boosted their price target on Viridian Therapeutics from $27.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Oppenheimer restated an “outperform” rating and issued a $28.00 price target (down previously from $31.00) on shares of Viridian Therapeutics in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.33.

Viridian Therapeutics Trading Down 6.9 %

Viridian Therapeutics stock opened at $20.14 on Friday. Viridian Therapeutics has a 12 month low of $11.40 and a 12 month high of $27.20. The business’s fifty day simple moving average is $22.64 and its two-hundred day simple moving average is $16.97. The company has a current ratio of 15.82, a quick ratio of 15.82 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -4.67 and a beta of 1.10.

Hedge Funds Weigh In On Viridian Therapeutics

A number of hedge funds have recently made changes to their positions in the business. Ameritas Investment Partners Inc. boosted 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 during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Viridian Therapeutics by 4.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,822 shares of the company’s stock worth $505,000 after acquiring an additional 1,135 shares during the period. Arizona State Retirement System boosted its stake in shares of Viridian Therapeutics by 14.7% in the second quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock worth $171,000 after acquiring an additional 1,688 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Viridian Therapeutics by 17.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,997 shares of the company’s stock worth $318,000 after acquiring an additional 2,036 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Viridian Therapeutics by 24.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock worth $156,000 after acquiring an additional 2,359 shares during the period.

Insiders Place Their Bets

In related news, Director Fairmount Funds Management Llc purchased 1,600,000 shares of Viridian Therapeutics stock in a transaction on Friday, September 13th. The stock was acquired at an average price of $18.75 per share, for a total transaction of $30,000,000.00. Following the completion of the transaction, the director now directly owns 3,445,813 shares in the company, valued at $64,608,993.75. This represents a 86.68 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Thomas W. Beetham purchased 5,000 shares of Viridian Therapeutics stock in a transaction on Friday, September 27th. The stock was bought at an average price of $23.41 per share, with a total value of $117,050.00. Following the transaction, the chief operating officer now owns 6,000 shares of the company’s stock, valued at approximately $140,460. This represents a 500.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 1,626,400 shares of company stock worth $30,616,312 over the last quarter. 0.65% of the stock is currently owned by corporate insiders.

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.