Wedbush Reduces Earnings Estimates for Viridian Therapeutics

Viridian Therapeutics, Inc. (NASDAQ:VRDN) – Equities researchers at Wedbush lowered their FY2027 earnings estimates for Viridian Therapeutics in a report issued on Thursday, February 27th. Wedbush analyst L. Chico now forecasts that the company will post earnings per share of $3.77 for the year, down from their prior forecast 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) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.81) EPS for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.24. The company had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.05 million. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%.

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

Viridian Therapeutics Price Performance

NASDAQ:VRDN opened at $15.29 on Friday. Viridian Therapeutics has a 52-week low of $11.40 and a 52-week high of $27.20. 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 business’s 50-day moving average price is $18.27 and its 200 day moving average price is $19.63. The firm has a market cap of $1.21 billion, a P/E ratio of -3.55 and a beta of 1.32.

Institutional Investors Weigh In On Viridian Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. R Squared Ltd bought a new position in shares of Viridian Therapeutics in the fourth quarter valued at approximately $26,000. Foresite Capital Management VI LLC acquired a new position in Viridian Therapeutics in the 4th quarter valued at $38,000. AlphaQuest LLC raised its holdings in Viridian Therapeutics by 119.0% in the 4th 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 period. Summit Investment Advisors Inc. lifted its position in Viridian Therapeutics by 24.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,646 shares of the company’s stock worth $147,000 after acquiring an additional 1,516 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Viridian Therapeutics during the third quarter valued at about $149,000.

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.