Viridian Therapeutics (NASDAQ:VRDN) Announces Quarterly Earnings Results

Viridian Therapeutics (NASDAQ:VRDN) released its earnings results on Thursday. The company reported ($0.81) earnings per share for the quarter, beating the consensus estimate of ($1.05) by $0.24, Zacks reports. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%.

Viridian Therapeutics Stock Performance

VRDN traded down $0.24 on Thursday, hitting $15.29. The company had a trading volume of 783,003 shares, compared to its average volume of 1,109,766. Viridian Therapeutics has a 1-year low of $11.40 and a 1-year high of $27.20. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of -3.55 and a beta of 1.32. The company’s fifty day moving average price is $18.34 and its 200 day moving average price is $19.66. The company has a debt-to-equity ratio of 0.04, a current ratio of 18.55 and a quick ratio of 18.55.

Wall Street Analyst Weigh In

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

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.