Leerink Partnrs Has Pessimistic View of VRDN FY2024 Earnings

Viridian Therapeutics, Inc. (NASDAQ:VRDN) – Equities researchers at Leerink Partnrs dropped their FY2024 earnings per share estimates for Viridian Therapeutics in a research report issued to clients and investors on Tuesday, November 12th. Leerink Partnrs analyst T. Smith now forecasts that the company will earn ($3.85) per share for the year, down from their prior estimate of ($3.83). The consensus estimate for Viridian Therapeutics’ current full-year earnings is ($3.94) per share. Leerink Partnrs also issued estimates for Viridian Therapeutics’ Q4 2024 earnings at ($0.88) EPS, FY2025 earnings at ($3.71) EPS, FY2026 earnings at ($3.05) EPS, FY2027 earnings at ($1.47) EPS and FY2028 earnings at $1.26 EPS.

A number of other brokerages have also commented on VRDN. Wedbush reissued an “outperform” rating and set a $42.00 price target on shares of Viridian Therapeutics in a research note on Monday, July 29th. Oppenheimer restated an “outperform” rating and set a $28.00 price objective (down from $31.00) on shares of Viridian Therapeutics in a research report on Monday, August 12th. BTIG Research upped their price objective on Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. The Goldman Sachs Group upped their price objective on Viridian Therapeutics from $25.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Finally, Needham & Company LLC restated a “buy” rating and set a $38.00 price objective on shares of Viridian Therapeutics in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Viridian Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $36.33.

Viridian Therapeutics Price Performance

Shares of Viridian Therapeutics stock opened at $20.14 on Friday. The stock has a 50 day moving average of $22.64 and a 200 day moving average of $16.97. Viridian Therapeutics has a 12 month low of $11.40 and a 12 month high of $27.20. The firm has a market cap of $1.60 billion, a PE ratio of -4.67 and a beta of 1.10. The company has a current ratio of 15.82, a quick ratio of 15.82 and a debt-to-equity ratio of 0.05.

Insider Transactions at Viridian Therapeutics

In other news, COO Thomas W. Beetham acquired 5,000 shares of Viridian Therapeutics stock in a transaction on Friday, September 27th. The shares were bought at an average cost of $23.41 per share, for a total transaction of $117,050.00. Following the acquisition, the chief operating officer now directly owns 6,000 shares of the company’s stock, valued at $140,460. This trade represents a 500.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Fairmount Funds Management Llc acquired 1,600,000 shares of Viridian Therapeutics stock in a transaction on Friday, September 13th. The shares were purchased at an average price of $18.75 per share, for a total transaction of $30,000,000.00. Following the completion of the acquisition, the director now directly owns 3,445,813 shares in the company, valued at $64,608,993.75. This trade represents a 86.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 1,626,400 shares of company stock worth $30,616,312. 0.65% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. boosted its position in Viridian Therapeutics by 62.9% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 178,855 shares of the company’s stock valued at $2,327,000 after acquiring an additional 69,035 shares in the last quarter. Rhumbline Advisers boosted its position in Viridian Therapeutics by 34.5% during the 2nd quarter. Rhumbline Advisers now owns 90,826 shares of the company’s stock valued at $1,182,000 after acquiring an additional 23,305 shares in the last quarter. Vanguard Group Inc. boosted its position in Viridian Therapeutics by 7.8% during the 1st quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company’s stock valued at $56,632,000 after acquiring an additional 233,331 shares in the last quarter. Candriam S.C.A. boosted its position in Viridian Therapeutics by 167.8% during the 2nd quarter. Candriam S.C.A. now owns 749,804 shares of the company’s stock valued at $9,754,000 after acquiring an additional 469,804 shares in the last quarter. Finally, Novo Holdings A S boosted its position in Viridian Therapeutics by 19.3% during the 3rd quarter. Novo Holdings A S now owns 2,385,000 shares of the company’s stock valued at $54,259,000 after acquiring an additional 385,000 shares in 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.