What is Leerink Partnrs’ Forecast for VRDN FY2024 Earnings?

Viridian Therapeutics, Inc. (NASDAQ:VRDN) – Leerink Partnrs lowered their FY2024 earnings per share estimates for Viridian Therapeutics in a research note issued on Tuesday, November 12th. Leerink Partnrs analyst T. Smith now expects that the company will post earnings per share of ($3.85) for the year, down from their prior 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.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). Viridian Therapeutics had a negative return on equity of 81.36% and a negative net margin of 85,127.16%. The firm had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.08 million.

Other analysts have also recently issued reports about the stock. Wedbush reissued an “outperform” rating and set a $42.00 target price on shares of Viridian Therapeutics in a report on Monday, July 29th. The Goldman Sachs Group increased their price objective on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. BTIG Research lifted their target price on Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $44.00 price target on shares of Viridian Therapeutics in a research report on Thursday, September 19th. Finally, HC Wainwright boosted their price objective on Viridian Therapeutics from $27.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.33.

Viridian Therapeutics Stock Performance

Shares of VRDN opened at $20.14 on Friday. The stock has a market capitalization of $1.60 billion, a PE ratio of -4.67 and a beta of 1.10. The business’s fifty day moving average price is $22.64 and its 200 day moving average price is $16.99. The company has a debt-to-equity ratio of 0.05, a current ratio of 15.82 and a quick ratio of 15.82. Viridian Therapeutics has a 12-month low of $11.40 and a 12-month high of $27.20.

Insiders Place Their Bets

In related news, Director Fairmount Funds Management Llc purchased 1,600,000 shares of Viridian Therapeutics stock in a transaction dated Friday, September 13th. The stock was bought at an average cost of $18.75 per share, with a total value of $30,000,000.00. Following the purchase, the director now owns 3,445,813 shares in the company, valued at approximately $64,608,993.75. The trade was a 86.68 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Stephen F. Mahoney acquired 21,400 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average price of $23.33 per share, for a total transaction of $499,262.00. Following the purchase, the chief executive officer now directly owns 21,400 shares of the company’s stock, valued at approximately $499,262. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 1,626,400 shares of company stock worth $30,616,312. 0.65% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of VRDN. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Viridian Therapeutics by 4.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,822 shares of the company’s stock valued at $505,000 after acquiring an additional 1,135 shares during the last quarter. Swiss National Bank lifted its stake in Viridian Therapeutics by 23.4% during the first quarter. Swiss National Bank now owns 82,900 shares of the company’s stock valued at $1,452,000 after purchasing an additional 15,700 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Viridian Therapeutics by 7.8% during the first quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company’s stock worth $56,632,000 after buying an additional 233,331 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in 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 buying an additional 799 shares during the last quarter. Finally, American International Group Inc. grew its position in Viridian Therapeutics by 15.4% in the first quarter. American International Group Inc. now owns 24,515 shares of the company’s stock worth $429,000 after buying an additional 3,266 shares during the last quarter.

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.