Wedbush Has Negative Forecast for VRDN FY2028 Earnings

Key Points

• Wedbush has reduced its earnings per share estimate for Viridian Therapeutics for FY2028 from $5.43 to $5.11, while the current consensus estimate is a loss of ($4.03) per share.
• During its latest earnings announcement, Viridian reported a quarterly loss of ($1.00) per share, meeting expectations, with revenues increasing by 4.2% year-over-year to $0.08 million.
• Viridian's share price experienced a 4% decline, closing at $15.87, amidst various changes in price targets from research firms, with the average target now set at $37.00.

Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) - Wedbush reduced their FY2028 earnings per share estimates for Viridian Therapeutics in a research note issued on Wednesday, August 6th. Wedbush analyst L. Chico now expects that the company will post earnings of $5.11 per share for the year, down from their prior forecast of $5.43. The consensus estimate for Viridian Therapeutics' current full-year earnings is ($4.03) per share.

A number of other analysts have also recently commented on VRDN. Needham & Company LLC cut their price objective on Viridian Therapeutics from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. HC Wainwright reiterated a "buy" rating and set a $34.00 price objective on shares of Viridian Therapeutics in a research note on Wednesday, April 23rd. JMP Securities decreased their target price on Viridian Therapeutics from $42.00 to $38.00 and set a "market outperform" rating on the stock in a research report on Wednesday, May 7th. Royal Bank Of Canada decreased their price objective on Viridian Therapeutics from $45.00 to $41.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. Finally, Oppenheimer increased their target price on shares of Viridian Therapeutics from $28.00 to $32.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Viridian Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $37.00.

Viridian Therapeutics Stock Performance

VRDN stock traded up $1.08 during trading on Friday, hitting $17.97. 923,890 shares of the company traded hands, compared to its average volume of 897,902. The stock's 50-day simple moving average is $16.00 and its 200 day simple moving average is $15.16. The company has a debt-to-equity ratio of 0.04, a current ratio of 11.01 and a quick ratio of 11.01. The company has a market cap of $1.47 billion, a PE ratio of -4.69 and a beta of 0.42. Viridian Therapeutics has a 1 year low of $9.90 and a 1 year high of $27.20.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($1.00) earnings per share for the quarter, meeting the consensus estimate of ($1.00). The company had revenue of $0.08 million during the quarter, compared to analysts' expectations of $0.05 million. Viridian Therapeutics had a negative return on equity of 78.95% and a negative net margin of 112,806.88%. Viridian Therapeutics's quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the business earned ($0.81) earnings per share.

Institutional Trading of Viridian Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Amalgamated Bank lifted its stake in shares of Viridian Therapeutics by 49.7% in the 1st quarter. Amalgamated Bank now owns 2,531 shares of the company's stock valued at $34,000 after purchasing an additional 840 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Viridian Therapeutics by 1.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company's stock valued at $669,000 after purchasing an additional 876 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Viridian Therapeutics by 2.9% in the 1st quarter. SG Americas Securities LLC now owns 31,972 shares of the company's stock valued at $431,000 after purchasing an additional 887 shares during the last quarter. Voya Investment Management LLC lifted its stake in shares of Viridian Therapeutics by 5.1% in the 4th quarter. Voya Investment Management LLC now owns 21,397 shares of the company's stock valued at $410,000 after purchasing an additional 1,038 shares during the last quarter. Finally, Tudor Investment Corp ET AL lifted its stake in shares of Viridian Therapeutics by 3.0% in the 4th quarter. Tudor Investment Corp ET AL now owns 38,367 shares of the company's stock valued at $735,000 after purchasing an additional 1,106 shares during the last quarter.

About Viridian Therapeutics

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.