FY2024 Earnings Forecast for VRDN Issued By HC Wainwright

Viridian Therapeutics, Inc. (NASDAQ:VRDN) – Equities research analysts at HC Wainwright upped their FY2024 earnings per share (EPS) estimates for Viridian Therapeutics in a note issued to investors on Wednesday, November 13th. HC Wainwright analyst D. Tsao now anticipates that the company will post earnings per share of ($3.96) for the year, up from their previous forecast of ($4.02). HC Wainwright has a “Buy” rating and a $34.00 price target on the stock. The consensus estimate for Viridian Therapeutics’ current full-year earnings is ($4.01) per share. HC Wainwright also issued estimates for Viridian Therapeutics’ Q4 2024 earnings at ($0.99) EPS, Q2 2025 earnings at ($1.01) EPS, Q3 2025 earnings at ($1.08) EPS, Q4 2025 earnings at ($0.99) EPS and FY2025 earnings at ($4.06) EPS.

Other analysts have also issued reports about the company. Wedbush reaffirmed an “outperform” rating and issued a $42.00 target price on shares of Viridian Therapeutics in a research report on Monday, July 29th. The Goldman Sachs Group increased their target price on Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Oppenheimer reissued an “outperform” rating and issued a $28.00 price target (down previously from $31.00) on shares of Viridian Therapeutics in a research report on Monday, August 12th. BTIG Research upped their price objective on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $44.00 price objective on shares of Viridian Therapeutics in a report on Thursday, September 19th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.33.

Viridian Therapeutics Trading Down 6.9 %

VRDN opened at $20.14 on Monday. The company has a fifty day moving average price of $22.64 and a two-hundred day moving average price of $17.02. Viridian Therapeutics has a 1-year low of $11.40 and a 1-year high of $27.20. The company has a market cap of $1.60 billion, a P/E ratio of -4.67 and a beta of 1.10. The company has a current ratio of 18.55, a quick ratio of 15.82 and a debt-to-equity ratio of 0.04.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The company had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.08 million. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%.

Insider Activity at Viridian Therapeutics

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

Hedge Funds Weigh In On Viridian Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in VRDN. Hennion & Walsh Asset Management Inc. boosted its stake in Viridian Therapeutics by 62.9% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 178,855 shares of the company’s stock valued at $2,327,000 after acquiring an additional 69,035 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Viridian Therapeutics by 34.5% in the 2nd quarter. Rhumbline Advisers now owns 90,826 shares of the company’s stock worth $1,182,000 after purchasing an additional 23,305 shares during the period. Vanguard Group Inc. lifted its stake in Viridian Therapeutics by 7.8% in the first 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. grew its holdings in Viridian Therapeutics by 167.8% during the second 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 period. Finally, Novo Holdings A S increased its position in Viridian Therapeutics by 19.3% in the third quarter. Novo Holdings A S now owns 2,385,000 shares of the company’s stock worth $54,259,000 after buying an additional 385,000 shares during 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.