Research Analysts Issue Forecasts for VRDN FY2029 Earnings

by · The Cerbat Gem

Viridian Therapeutics, Inc. (NASDAQ:VRDN – Free Report) – Equities researchers at Leerink Partnrs reduced their FY2029 earnings estimates for shares of Viridian Therapeutics in a research report issued on Wednesday, November 5th. Leerink Partnrs analyst T. Smith now forecasts that the company will earn $1.32 per share for the year, down from their prior estimate of $1.49. The consensus estimate for Viridian Therapeutics’ current full-year earnings is ($4.03) per share.

Viridian Therapeutics (NASDAQ:VRDN – Get Free Report) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.48. Viridian Therapeutics had a negative net margin of 112,806.88% and a negative return on equity of 78.95%. The business had revenue of $0.07 million for the quarter, compared to analysts’ expectations of $16.21 million. Viridian Therapeutics’s revenue for the quarter was up 81993.0% compared to the same quarter last year.

Several other analysts also recently weighed in on the company. Oppenheimer upped their price objective on Viridian Therapeutics from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Royal Bank Of Canada increased their target price on shares of Viridian Therapeutics from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Viridian Therapeutics in a research note on Wednesday, October 8th. Wells Fargo & Company lowered their price objective on shares of Viridian Therapeutics from $27.00 to $26.00 and set an “equal weight” rating for the company in a research report on Thursday, August 7th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $40.00 price objective on shares of Viridian Therapeutics in a research note on Thursday. Nine 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. According to data from MarketBeat.com, Viridian Therapeutics has an average rating of “Moderate Buy” and an average target price of $39.78.

View Our Latest Stock Report on Viridian Therapeutics

Viridian Therapeutics Price Performance

Shares of VRDN stock traded down $0.67 during trading hours on Friday, reaching $26.83. The company’s stock had a trading volume of 409,248 shares, compared to its average volume of 961,670. Viridian Therapeutics has a fifty-two week low of $9.90 and a fifty-two week high of $28.60. The firm’s 50 day simple moving average is $21.12 and its 200-day simple moving average is $17.41. The company has a quick ratio of 11.01, a current ratio of 11.01 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of -7.00 and a beta of 0.72.

Insider Activity

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc purchased 454,545 shares of the company’s stock in a transaction dated Thursday, October 23rd. The stock was purchased at an average price of $22.00 per share, with a total value of $9,999,990.00. Following the completion of the purchase, the director owned 3,914,458 shares of the company’s stock, valued at approximately $86,118,076. The trade was a 13.14% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.58% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of VRDN. Amalgamated Bank grew 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 buying an additional 840 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Viridian Therapeutics by 332.1% in the third quarter. Farther Finance Advisors LLC now owns 1,940 shares of the company’s stock worth $42,000 after acquiring an additional 1,491 shares during the period. Bessemer Group Inc. boosted its holdings in Viridian Therapeutics by 947.7% in the third quarter. Bessemer Group Inc. now owns 2,085 shares of the company’s stock valued at $45,000 after acquiring an additional 1,886 shares during the last quarter. Sei Investments Co. acquired a new stake in Viridian Therapeutics during the 2nd quarter valued at approximately $147,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Viridian Therapeutics during the 2nd quarter worth approximately $170,000.

About Viridian Therapeutics

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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.

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