Viridian Therapeutics (NASDAQ:VRDN) Announces Earnings Results

Viridian Therapeutics (NASDAQ:VRDN) announced its quarterly earnings results on Wednesday. The company reported ($0.81) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.02) by $0.21, FiscalAI reports. Viridian Therapeutics had a negative net margin of 505.86% and a negative return on equity of 72.97%. The firm had revenue of $25.75 million for the quarter, compared to analyst estimates of $4.72 million.

Here are the key takeaways from Viridian Therapeutics’ conference call:

• LUMVOA generated $24.7 million in net product revenue in its first launch quarter, with more than 100 patients having started treatment by September 30. Management said the revenue was demand-driven, not primarily inventory stocking.
• The company reported payer policies covering 30% of covered lives by quarter-end, with parity access in almost all cases, and said it remains on track for broad coverage six to nine months after launch. CMS assigned LUMVOA a permanent J-code effective January 1, 2027.
• Management called the launch encouraging but emphasized it is still early and said uptake will need to be assessed over subsequent quarters; it declined to provide Q4 guidance or quantify market share.
• Viridian said it remains on track to submit elegrobart’s BLA in Q1 2027, expects to begin a Phase I trial of VRDN-292 in Graves’ disease later this quarter, and plans to share first-in-human data for VRDN-008 later this quarter.
• The company ended the quarter with just over $955 million in cash, cash equivalents, and marketable securities, which management said is sufficient to fund current business plans through profitability.

Viridian Therapeutics Price Performance

Shares of NASDAQ VRDN traded up $3.10 during midday trading on Wednesday, reaching $28.25. 8,140,756 shares of the company traded hands, compared to its average volume of 2,137,693. Viridian Therapeutics has a 12 month low of $13.18 and a 12 month high of $34.29. The company has a debt-to-equity ratio of 0.43, a quick ratio of 16.95 and a current ratio of 16.95. The stock’s 50-day simple moving average is $21.70 and its 200-day simple moving average is $21.87. The firm has a market cap of $3.20 billion, a PE ratio of -8.38 and a beta of 1.07.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Viridian Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 14th. Wall Street Zen cut shares of Viridian Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Sunday, October 4th. Royal Bank Of Canada lifted their price objective on Viridian Therapeutics from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Tuesday, September 22nd. Finally, Truist Financial lifted their price objective on Viridian Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a report on Friday, August 7th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.91.

Insider Buying and Selling at Viridian Therapeutics

In related news, insider Jennifer Tousignant sold 14,212 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $24.50, for a total transaction of $348,194.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.40% of the company’s stock.

About Viridian Therapeutics

Viridian Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious autoimmune diseases. The company’s lead research area is thyroid eye disease (TED), a debilitating condition that can cause eye inflammation, swelling, pain and vision-related complications.

Viridian’s pipeline is centered on antibodies designed to inhibit the insulin-like growth factor-1 receptor (IGF-1R), a target associated with TED. Its investigational therapies include veligrotug (VRDN-001), an intravenous treatment candidate, and VRDN-003, a subcutaneous formulation being developed to provide a more convenient administration option.