Viridian Therapeutics (NASDAQ:VRDN) Posts Earnings Results, Beats Expectations By $0.28 EPS

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported ($0.79) earnings per share for the quarter, topping the consensus estimate of ($1.07) by $0.28, Briefing.com reports. The business had revenue of $0.07 million during the quarter, compared to the consensus estimate of $0.09 million. Viridian Therapeutics had a negative return on equity of 121.80% and a negative net margin of 75,711.48%. The firm's revenue for the quarter was down 26.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.61) EPS.

Viridian Therapeutics Trading Down 6.6 %

NASDAQ VRDN traded down $0.99 on Thursday, hitting $13.91. 1,729,471 shares of the stock were exchanged, compared to its average volume of 927,377. Viridian Therapeutics has a 52-week low of $10.93 and a 52-week high of $28.35. The firm has a market capitalization of $887.74 million, a P/E ratio of -2.61 and a beta of 1.14. The company has a debt-to-equity ratio of 0.09, a quick ratio of 18.26 and a current ratio of 18.26. The stock has a fifty day moving average price of $16.46 and a two-hundred day moving average price of $17.64.

Analyst Ratings Changes

A number of brokerages recently weighed in on VRDN. Needham & Company LLC restated a "buy" rating and set a $30.00 target price on shares of Viridian Therapeutics in a research report on Thursday. Wedbush raised their price objective on Viridian Therapeutics from $39.00 to $40.00 and gave the company an "outperform" rating in a research report on Wednesday, February 28th. LADENBURG THALM/SH SH downgraded Viridian Therapeutics from a "buy" rating to a "neutral" rating in a research report on Thursday. Oppenheimer cut their price target on Viridian Therapeutics from $36.00 to $31.00 and set an "outperform" rating for the company in a report on Thursday. Finally, HC Wainwright lowered their target price on Viridian Therapeutics from $37.00 to $27.00 and set a "buy" rating for the company in a research report on Thursday. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $34.60.

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.