FY2024 EPS Forecast for Viridian Therapeutics Cut by Analyst

Viridian Therapeutics, Inc. (NASDAQ:VRDN) – Analysts at Wedbush dropped their FY2024 EPS estimates for shares of Viridian Therapeutics in a report released on Tuesday, November 12th. Wedbush analyst L. Chico now expects that the company will post earnings of ($3.97) per share for the year, down from their prior estimate of ($3.77). Wedbush currently has a “Outperform” rating and a $42.00 price objective 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.

Several other equities analysts have also recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Viridian Therapeutics in a research note on Wednesday. The Goldman Sachs Group lifted their price objective on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $44.00 price objective on shares of Viridian Therapeutics in a research note on Thursday, September 19th. Oppenheimer reaffirmed 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. Finally, BTIG Research lifted their price objective on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.33.

Viridian Therapeutics Stock Down 6.9 %

VRDN stock opened at $20.14 on Friday. Viridian Therapeutics has a 52 week low of $11.40 and a 52 week high of $27.20. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -4.67 and a beta of 1.10. The firm’s 50-day moving average is $22.64 and its two-hundred day moving average is $16.97. The company has a current ratio of 15.82, a quick ratio of 15.82 and a debt-to-equity ratio of 0.05.

Institutional Trading of Viridian Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its stake in Viridian Therapeutics by 16.8% in the third quarter. FMR LLC now owns 11,183,478 shares of the company’s stock valued at $254,424,000 after acquiring an additional 1,610,130 shares during the last quarter. Maverick Capital Ltd. lifted its stake in shares of Viridian Therapeutics by 22.9% in the second quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock worth $43,036,000 after buying an additional 615,531 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Viridian Therapeutics by 7.8% in the first quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company’s stock worth $56,632,000 after buying an additional 233,331 shares during the last quarter. Novo Holdings A S lifted its stake in shares of Viridian Therapeutics by 19.3% in the third quarter. Novo Holdings A S now owns 2,385,000 shares of the company’s stock worth $54,259,000 after buying an additional 385,000 shares during the last quarter. Finally, Great Point Partners LLC increased its position in Viridian Therapeutics by 50.0% during the third quarter. Great Point Partners LLC now owns 750,000 shares of the company’s stock worth $17,062,000 after acquiring an additional 250,000 shares during the period.

Insider Transactions at Viridian Therapeutics

In related news, COO Thomas W. Beetham purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was acquired at an average cost of $23.41 per share, for a total transaction of $117,050.00. Following the completion of the acquisition, the chief operating officer now owns 6,000 shares in the company, valued at $140,460. This trade represents a 500.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Stephen F. Mahoney purchased 21,400 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average price 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 of the company’s stock, valued at $499,262. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 1,626,400 shares of company stock valued at $30,616,312 over the last ninety days. Corporate insiders own 0.65% of the company’s stock.

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.