Leerink Partnrs Has Pessimistic View of VRDN FY2024 Earnings

Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) - Investment analysts at Leerink Partnrs reduced their FY2024 earnings estimates for shares of Viridian Therapeutics in a note issued to investors 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 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.

Several other analysts have also recently issued reports on VRDN. HC Wainwright increased their target price on Viridian Therapeutics from $27.00 to $34.00 and gave the stock a "buy" rating in a research report on Thursday. Needham & Company LLC reiterated a "buy" rating and set a $38.00 price objective on shares of Viridian Therapeutics in a research report on Wednesday. Wedbush restated an "outperform" rating and set a $42.00 target price on shares of Viridian Therapeutics in a research report on Monday, July 29th. The Goldman Sachs Group lifted their price target on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the company a "buy" rating in a report on Thursday, September 12th. Finally, BTIG Research increased their price objective on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the company a "buy" rating in a report on Thursday, September 26th. 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, the company currently has a consensus rating of "Moderate Buy" and an average price target of $36.33.

Viridian Therapeutics Price Performance

Viridian Therapeutics stock traded down $1.50 during mid-day trading on Friday, hitting $20.14. The stock had a trading volume of 1,833,077 shares, compared to its average volume of 1,119,797. 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 50 day moving average is $22.52 and its 200 day moving average is $16.92. The firm has a market capitalization of $1.60 billion, a P/E ratio of -4.62 and a beta of 1.10. Viridian Therapeutics has a one year low of $11.40 and a one year high of $27.20.

Insider Activity

In other news, CEO Stephen F. Mahoney bought 21,400 shares of the stock in a transaction dated Friday, September 27th. The stock was purchased at an average price of $23.33 per share, for a total transaction of $499,262.00. Following the acquisition, the chief executive officer now owns 21,400 shares of the company's stock, valued at $499,262. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Fairmount Funds Management Llc purchased 1,600,000 shares of the business's stock in a transaction that occurred on Friday, September 13th. The shares were purchased at an average price of $18.75 per share, for a total transaction of $30,000,000.00. Following the completion of the acquisition, the director now directly owns 3,445,813 shares in the company, valued at $64,608,993.75. The trade was a 86.68 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 1,626,400 shares of company stock worth $30,616,312. 0.65% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. FMR LLC lifted its stake in shares of Viridian Therapeutics by 16.8% during 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 last quarter. Novo Holdings A S lifted its position in shares of Viridian Therapeutics by 81.8% during 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 last quarter. Maverick Capital Ltd. boosted its stake in shares of Viridian Therapeutics by 22.9% during the second 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. Candriam S.C.A. grew its holdings in shares of Viridian Therapeutics by 167.8% in the second 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 last quarter. Finally, Parkman Healthcare Partners LLC purchased a new position in Viridian Therapeutics in the 3rd quarter worth about $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.