Wedbush Reduces Earnings Estimates for Viridian Therapeutics

Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) - Investment analysts at Wedbush dropped their FY2027 earnings per share (EPS) estimates for shares of Viridian Therapeutics in a report released on Thursday, February 27th. Wedbush analyst L. Chico now anticipates that the company will post earnings per share of $3.77 for the year, down from their previous estimate of $3.81. The consensus estimate for Viridian Therapeutics' current full-year earnings is ($4.03) per share. Wedbush also issued estimates for Viridian Therapeutics' FY2027 earnings at $3.77 EPS, FY2028 earnings at $9.42 EPS and FY2028 earnings at $9.42 EPS.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.81) EPS for the quarter, topping the consensus estimate of ($1.05) by $0.24. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. The firm had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.05 million.

VRDN has been the topic of a number of other reports. Needham & Company LLC reissued a "buy" rating and set a $38.00 price target on shares of Viridian Therapeutics in a report on Tuesday, January 7th. HC Wainwright reissued a "buy" rating and set a $34.00 target price on shares of Viridian Therapeutics in a research note on Monday, December 16th. TD Cowen began coverage on Viridian Therapeutics in a research report on Monday, November 25th. They set a "buy" rating on the stock. Royal Bank of Canada upped their price target on Viridian Therapeutics from $44.00 to $47.00 and gave the stock an "outperform" rating in a report on Tuesday, December 17th. Finally, Wells Fargo & Company reissued an "equal weight" rating and issued a $27.00 price objective (down from $37.00) on shares of Viridian Therapeutics in a report on Thursday, December 19th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $35.70.

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Viridian Therapeutics Stock Performance

Shares of NASDAQ VRDN traded up $0.82 during midday trading on Friday, reaching $15.23. 1,321,389 shares of the stock were exchanged, compared to its average volume of 1,179,844. The company has a quick ratio of 18.55, a current ratio of 18.55 and a debt-to-equity ratio of 0.04. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -3.53 and a beta of 1.32. The firm has a 50-day simple moving average of $18.10 and a two-hundred day simple moving average of $19.70. Viridian Therapeutics has a twelve month low of $11.40 and a twelve month high of $27.20.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in Viridian Therapeutics during the 4th quarter worth $26,000. Foresite Capital Management VI LLC purchased a new position in shares of Viridian Therapeutics in the fourth quarter worth about $38,000. AlphaQuest LLC boosted its position in Viridian Therapeutics by 119.0% during the fourth quarter. AlphaQuest LLC now owns 2,795 shares of the company's stock worth $54,000 after acquiring an additional 1,519 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Viridian Therapeutics during the 3rd quarter valued at about $149,000. Finally, Summit Investment Advisors Inc. raised its holdings in Viridian Therapeutics by 24.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,646 shares of the company's stock valued at $147,000 after acquiring an additional 1,516 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.