FY2024 EPS Forecast for Viridian Therapeutics Cut by Analyst

Viridian Therapeutics, Inc. (NASDAQ:VRDN) – Analysts at Leerink Partnrs cut their FY2024 EPS estimates for Viridian Therapeutics in a note issued to investors on Tuesday, November 12th. Leerink Partnrs analyst T. Smith now anticipates that the company will post earnings per share of ($3.85) for the year, down from their previous forecast 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.

A number of other equities research analysts have also commented on the company. Royal Bank of Canada restated an “outperform” rating and set a $44.00 price objective on shares of Viridian Therapeutics in a research report on Thursday, September 19th. Wedbush restated an “outperform” rating and set a $42.00 price target on shares of Viridian Therapeutics in a report on Monday, July 29th. Oppenheimer reiterated an “outperform” rating and issued a $28.00 price objective (down previously from $31.00) on shares of Viridian Therapeutics in a research note on Monday, August 12th. HC Wainwright lifted their target price on shares of Viridian Therapeutics from $27.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 price target on shares of Viridian Therapeutics in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Viridian Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $36.33.

Viridian Therapeutics Stock Performance

Shares of 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 company has a quick ratio of 15.82, a current ratio of 15.82 and a debt-to-equity ratio of 0.05. The stock has a market cap of $1.60 billion, a PE ratio of -4.67 and a beta of 1.10. The business has a fifty day simple moving average of $22.64 and a 200-day simple moving average of $16.99.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $0.08 million.

Institutional Trading of Viridian Therapeutics

Several large investors have recently modified their holdings of VRDN. FMR LLC raised its holdings in Viridian Therapeutics by 16.8% in the 3rd quarter. FMR LLC now owns 11,183,478 shares of the company’s stock worth $254,424,000 after acquiring an additional 1,610,130 shares during the period. Novo Holdings A S increased its stake in shares of Viridian Therapeutics by 81.8% in the second quarter. Novo Holdings A S now owns 2,000,000 shares of the company’s stock worth $26,020,000 after purchasing an additional 900,000 shares during the period. Maverick Capital Ltd. lifted its position in shares of Viridian Therapeutics by 22.9% during the 2nd quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock worth $43,036,000 after purchasing an additional 615,531 shares during the last quarter. Candriam S.C.A. boosted its stake in Viridian Therapeutics by 167.8% during the 2nd 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, Parkman Healthcare Partners LLC acquired a new stake in Viridian Therapeutics in the 3rd quarter valued at approximately $9,669,000.

Insider Activity

In related news, Director Fairmount Funds Management Llc bought 1,600,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was purchased at an average price of $18.75 per share, with a total value of $30,000,000.00. Following the completion of the transaction, 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 this hyperlink. Also, COO Thomas W. Beetham purchased 5,000 shares of the stock in a transaction on Friday, September 27th. The shares were bought at an average price of $23.41 per share, for a total transaction of $117,050.00. Following the acquisition, the chief operating officer now owns 6,000 shares of the company’s stock, 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. In the last 90 days, insiders have acquired 1,626,400 shares of company stock worth $30,616,312. 0.65% of the stock is 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.