HC Wainwright Has Bullish Forecast for VRDN FY2024 Earnings

Viridian Therapeutics, Inc. (NASDAQ:VRDN) – Equities research analysts at HC Wainwright increased their FY2024 earnings estimates for Viridian Therapeutics in a report released on Wednesday, November 13th. HC Wainwright analyst D. Tsao now expects 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 research analysts also recently issued research reports about the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $44.00 price objective on shares of Viridian Therapeutics in a research report on Thursday, September 19th. Oppenheimer reaffirmed an “outperform” rating and issued a $28.00 price target (down from $31.00) on shares of Viridian Therapeutics in a report on Monday, August 12th. BTIG Research raised their price objective on Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. The Goldman Sachs Group boosted their target price on Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price target on shares of Viridian Therapeutics in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $36.33.

Viridian Therapeutics Price Performance

VRDN opened at $20.24 on Monday. The firm has a market capitalization of $1.60 billion, a PE ratio of -4.70 and a beta of 1.10. The business’s 50-day moving average is $22.79 and its two-hundred day moving average is $17.09. Viridian Therapeutics has a 1 year low of $11.40 and a 1 year high of $27.20. The company has a debt-to-equity ratio of 0.04, a current ratio of 18.55 and a quick ratio of 18.55.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). The company had revenue of $0.09 million during the quarter, compared to analysts’ expectations 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 Buying and Selling

In other Viridian Therapeutics news, CEO Stephen F. Mahoney purchased 21,400 shares of the stock in a transaction on Friday, September 27th. The shares were bought at an average cost of $23.33 per share, with a total value of $499,262.00. Following the completion of the acquisition, the chief executive officer now owns 21,400 shares in the company, valued at $499,262. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Thomas W. Beetham purchased 5,000 shares of the business’s stock in a transaction on Friday, September 27th. The shares were bought at an average cost of $23.41 per share, for a total transaction of $117,050.00. Following the completion of the transaction, the chief operating officer now directly owns 6,000 shares in the company, valued at $140,460. This trade represents a 500.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 1,626,400 shares of company stock valued at $30,616,312 over the last quarter. 0.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Viridian Therapeutics

Several hedge funds have recently bought and sold shares of VRDN. FMR LLC boosted its holdings in Viridian Therapeutics by 16.8% during the third quarter. FMR LLC now owns 11,183,478 shares of the company’s stock worth $254,424,000 after buying an additional 1,610,130 shares in the last quarter. Novo Holdings A S boosted its stake in shares of Viridian Therapeutics by 81.8% during the 2nd quarter. Novo Holdings A S now owns 2,000,000 shares of the company’s stock worth $26,020,000 after acquiring an additional 900,000 shares in the last quarter. Maverick Capital Ltd. increased its stake in shares of 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 in the last quarter. Candriam S.C.A. raised its holdings in Viridian Therapeutics by 167.8% in the 2nd quarter. Candriam S.C.A. now owns 749,804 shares of the company’s stock worth $9,754,000 after purchasing an additional 469,804 shares during the period. Finally, Parkman Healthcare Partners LLC purchased a new position in Viridian Therapeutics during the third quarter worth approximately $9,669,000.

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.