Viridian Therapeutics, Inc. (NASDAQ:VRDN) Forecasted to Earn FY2024 Earnings of ($3.80) Per Share

Viridian Therapeutics, Inc. (NASDAQ:VRDN) – Stock analysts at B. Riley increased their FY2024 earnings estimates for Viridian Therapeutics in a research note issued to investors on Tuesday, September 10th. B. Riley analyst K. Patel now forecasts that the company will post earnings of ($3.80) per share for the year, up from their prior forecast of ($4.01). The consensus estimate for Viridian Therapeutics’ current full-year earnings is ($3.97) per share. B. Riley also issued estimates for Viridian Therapeutics’ FY2025 earnings at ($4.69) EPS, FY2026 earnings at ($4.56) EPS, FY2027 earnings at ($2.90) EPS and FY2028 earnings at ($1.49) EPS.

VRDN has been the topic of several other reports. The Goldman Sachs Group upped their price objective on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the company a “buy” rating in a report on Thursday. Oppenheimer reiterated an “outperform” rating and set a $28.00 price objective (down from $31.00) on shares of Viridian Therapeutics in a research note on Monday, August 12th. Royal Bank of Canada increased their price objective on shares of Viridian Therapeutics from $35.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday. Wolfe Research initiated coverage on shares of Viridian Therapeutics in a research note on Tuesday, June 11th. They set an “outperform” rating and a $29.00 price objective on the stock. Finally, BTIG Research increased their price objective on shares of Viridian Therapeutics from $46.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.30.

Viridian Therapeutics Stock Performance

NASDAQ VRDN opened at $22.06 on Friday. 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 firm’s fifty day moving average price is $15.39 and its two-hundred day moving average price is $15.02. Viridian Therapeutics has a 1 year low of $10.93 and a 1 year high of $24.18. The firm has a market capitalization of $1.41 billion, a P/E ratio of -4.90 and a beta of 1.03.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.15). Viridian Therapeutics had a negative return on equity of 83.18% and a negative net margin of 79,185.77%. The firm had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.09 million.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vestal Point Capital LP acquired a new stake in shares of Viridian Therapeutics during the 4th quarter worth approximately $21,780,000. Novo Holdings A S grew its position in Viridian Therapeutics by 81.8% in the 2nd quarter. Novo Holdings A S now owns 2,000,000 shares of the company’s stock valued at $26,020,000 after purchasing an additional 900,000 shares during the period. Perceptive Advisors LLC grew its position in Viridian Therapeutics by 71.1% in the 4th quarter. Perceptive Advisors LLC now owns 1,730,212 shares of the company’s stock valued at $37,684,000 after purchasing an additional 719,007 shares during the period. Maverick Capital Ltd. grew its position in Viridian Therapeutics by 22.9% in the 2nd quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock valued at $43,036,000 after purchasing an additional 615,531 shares during the period. Finally, RTW Investments LP acquired a new stake in Viridian Therapeutics in the 4th quarter valued at $13,195,000.

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.