Viridian Therapeutics (NASDAQ:VRDN) Issues Earnings Results

Key Points

• Viridian reported Q1 EPS of ($0.90), beating estimates of ($1.06) and delivering revenue of $0.14M versus $0.04M expected, though the company remains unprofitable with a net margin of -483.6% and ROE of -83.25%.
• Shares rose about 4.8% (opening $14.06) after the release; market cap is roughly $1.45B and while several analysts cut price targets, the consensus rating is still a “Moderate Buy” with an average target of $37.07.
• Viridian is a clinical-stage biotech advancing antibody programs led by VRDN-001 for thyroid eye disease and a second program, VRDN-002, targeting complement-mediated inflammatory conditions.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported ($0.90) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.06) by $0.16, FiscalAI reports. The business had revenue of $0.14 million during the quarter, compared to analysts' expectations of $0.04 million. Viridian Therapeutics had a negative return on equity of 83.25% and a negative net margin of 483.57%.

Viridian Therapeutics Stock Up 4.8%

VRDN stock opened at $14.06 on Tuesday. Viridian Therapeutics has a 1-year low of $11.76 and a 1-year high of $34.29. The business has a fifty day moving average price of $22.20 and a 200-day moving average price of $27.05. The company has a debt-to-equity ratio of 0.08, a current ratio of 12.65 and a quick ratio of 12.65. The stock has a market capitalization of $1.45 billion, a P/E ratio of -4.27 and a beta of 0.82.

Analyst Ratings Changes

VRDN has been the subject of a number of recent research reports. Royal Bank Of Canada lowered their price objective on Viridian Therapeutics from $42.00 to $30.00 and set an "outperform" rating for the company in a research note on Tuesday, April 7th. Needham & Company LLC lowered their price objective on Viridian Therapeutics from $42.00 to $32.00 and set a "buy" rating for the company in a research note on Monday, March 30th. Truist Financial lowered their price objective on Viridian Therapeutics from $36.00 to $33.00 and set a "buy" rating for the company in a research note on Tuesday, April 21st. Wells Fargo & Company lowered their price objective on Viridian Therapeutics from $29.00 to $20.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 31st. Finally, Wall Street Zen cut Viridian Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, March 7th. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $37.07.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. MetLife Investment Management LLC raised its stake in shares of Viridian Therapeutics by 0.8% in the fourth quarter. MetLife Investment Management LLC now owns 43,985 shares of the company's stock worth $1,369,000 after purchasing an additional 356 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Viridian Therapeutics by 0.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,360 shares of the company's stock worth $4,337,000 after purchasing an additional 380 shares during the last quarter. US Bancorp DE raised its stake in shares of Viridian Therapeutics by 23.2% in the third quarter. US Bancorp DE now owns 2,457 shares of the company's stock worth $53,000 after purchasing an additional 463 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Viridian Therapeutics by 1.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company's stock worth $669,000 after purchasing an additional 876 shares during the last quarter. Finally, Virtus Investment Advisers LLC raised its stake in shares of Viridian Therapeutics by 13.4% in the fourth quarter. Virtus Investment Advisers LLC now owns 8,233 shares of the company's stock worth $256,000 after purchasing an additional 971 shares during the last quarter.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc NASDAQ: VRDN is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted antibody therapeutics for patients suffering from rare and serious diseases. The company's lead program, VRDN-001, is a fully human monoclonal antibody that antagonizes the insulin-like growth factor-1 receptor (IGF-1R), with an initial focus on thyroid eye disease (TED). By selectively inhibiting IGF-1R signaling, VRDN-001 aims to reduce inflammation and tissue remodeling associated with TED and related disorders.

In addition to VRDN-001, Viridian is advancing a second antibody program, VRDN-002, which targets complement-mediated pathways implicated in autoimmune and inflammatory diseases.

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