Wedbush Expects Reduced Earnings for Viridian Therapeutics

Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) - Stock analysts at Wedbush decreased their FY2024 earnings estimates for Viridian Therapeutics in a research report issued to clients and investors on Tuesday, November 12th. Wedbush analyst L. Chico now anticipates that the company will post earnings per share of ($3.97) for the year, down from their previous estimate of ($3.77). Wedbush currently has a "Outperform" rating and a $42.00 target price on the stock. The consensus estimate for Viridian Therapeutics' current full-year earnings is ($3.94) per share. Wedbush also issued estimates for Viridian Therapeutics' Q4 2024 earnings at ($0.99) EPS, Q1 2025 earnings at ($1.02) EPS, Q2 2025 earnings at ($1.05) EPS, Q3 2025 earnings at ($0.99) EPS, Q4 2025 earnings at ($1.02) EPS, FY2025 earnings at ($4.08) EPS, FY2026 earnings at ($4.48) EPS and FY2027 earnings at $3.81 EPS.

A number of other analysts also recently weighed in on VRDN. The Goldman Sachs Group increased their target price on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the company a "buy" rating in a research report on Thursday, September 12th. Oppenheimer reissued an "outperform" rating and set a $28.00 target price (down previously from $31.00) on shares of Viridian Therapeutics in a research note on Monday, August 12th. BTIG Research upped their price target on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. HC Wainwright increased their price target on Viridian Therapeutics from $27.00 to $34.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $44.00 price objective on shares of Viridian Therapeutics in a research note on Thursday, September 19th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Viridian Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $36.33.

Viridian Therapeutics Trading Down 6.9 %

Shares of NASDAQ VRDN traded down $1.50 during trading on Friday, reaching $20.14. The company had a trading volume of 1,833,077 shares, compared to its average volume of 1,119,797. The stock has a market cap of $1.60 billion, a P/E ratio of -4.62 and a beta of 1.10. The company's fifty day moving average price is $22.52 and its 200-day moving average price is $16.92. The company has a quick ratio of 15.82, a current ratio of 15.82 and a debt-to-equity ratio of 0.05. Viridian Therapeutics has a 12 month low of $11.40 and a 12 month high of $27.20.

Hedge Funds Weigh In On Viridian Therapeutics

Institutional investors have recently modified their holdings of the business. Quest Partners LLC increased its stake in shares of Viridian Therapeutics by 344.0% during the 2nd quarter. Quest Partners LLC now owns 6,056 shares of the company's stock worth $79,000 after purchasing an additional 4,692 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in Viridian Therapeutics by 19.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company's stock worth $87,000 after purchasing an additional 799 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Viridian Therapeutics in the 3rd quarter worth about $149,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Viridian Therapeutics by 24.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company's stock valued at $156,000 after buying an additional 2,359 shares in the last quarter. Finally, AlphaCentric Advisors LLC increased its position in shares of Viridian Therapeutics by 108.3% during the second quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company's stock valued at $163,000 after buying an additional 6,500 shares during the period.

Insider Activity

In related news, COO Thomas W. Beetham bought 5,000 shares of the business's stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average price of $23.41 per share, with a total value 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 approximately $140,460. This represents a 500.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Fairmount Funds Management Llc bought 1,600,000 shares of Viridian Therapeutics stock in a transaction dated 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 purchase, the director now owns 3,445,813 shares in the company, valued at approximately $64,608,993.75. This represents a 86.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 1,626,400 shares of company stock worth $30,616,312 over the last quarter. 0.65% of the stock is currently owned by corporate insiders.

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.