Viridian Therapeutics, Inc. (NASDAQ:VRDN) to Post Q2 2023 Earnings of ($1.06) Per Share, SVB Leerink Forecasts

Viridian Therapeutics, Inc. (NASDAQ:VRDN – Get Rating) – Analysts at SVB Leerink issued their Q2 2023 earnings per share (EPS) estimates for Viridian Therapeutics in a research note issued to investors on Wednesday, March 8th. SVB Leerink analyst T. Smith expects that the company will earn ($1.06) per share for the quarter. SVB Leerink has a “Outperform” rating and a $45.00 price objective on the stock. The consensus estimate for Viridian Therapeutics’ current full-year earnings is ($3.33) per share. SVB Leerink also issued estimates for Viridian Therapeutics’ Q3 2023 earnings at ($1.12) EPS.

Other analysts have also recently issued research reports about the company. LADENBURG THALM/SH SH reiterated a “buy” rating and set a $40.00 target price on shares of Viridian Therapeutics in a research report on Thursday. Cowen began coverage on Viridian Therapeutics in a report on Monday, December 19th. They set an “outperform” rating for the company. HC Wainwright raised their price target on Viridian Therapeutics from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday. B. Riley raised their price target on Viridian Therapeutics from $40.00 to $46.00 in a report on Tuesday, January 10th. Finally, JMP Securities lowered their price objective on Viridian Therapeutics from $47.00 to $46.00 and set a “market outperform” rating for the company in a research note on Tuesday, November 15th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $45.10.

Viridian Therapeutics Stock Performance

NASDAQ:VRDN opened at $28.41 on Friday. The company has a current ratio of 17.35, a quick ratio of 17.35 and a debt-to-equity ratio of 0.02. Viridian Therapeutics has a 12-month low of $9.47 and a 12-month high of $39.00. The stock has a 50-day moving average price of $33.72 and a 200 day moving average price of $26.58. The stock has a market capitalization of $808.55 million, a P/E ratio of -7.05 and a beta of 0.95.

Viridian Therapeutics (NASDAQ:VRDN – Get Rating) last issued its quarterly earnings results on Wednesday, March 8th. The company reported ($1.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.41). Viridian Therapeutics had a negative return on equity of 108.29% and a negative net margin of 7,329.23%. The company had revenue of $0.11 million during the quarter, compared to analysts’ expectations of $0.46 million. During the same quarter in the previous year, the company earned ($1.32) EPS. The business’s quarterly revenue was down 50.9% compared to the same quarter last year.

Insiders Place Their Bets

In other Viridian Therapeutics news, insider Barrett Katz sold 47,377 shares of the firm’s stock in a transaction on Tuesday, January 10th. The stock was sold at an average price of $35.30, for a total transaction of $1,672,408.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Viridian Therapeutics news, insider Barrett Katz sold 47,377 shares of the firm’s stock in a transaction on Tuesday, January 10th. The stock was sold at an average price of $35.30, for a total transaction of $1,672,408.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Lara Meisner sold 15,656 shares of Viridian Therapeutics stock in a transaction on Wednesday, December 14th. The shares were sold at an average price of $28.12, for a total value of $440,246.72. The disclosure for this sale can be found here. Insiders have sold 181,344 shares of company stock worth $6,216,752 in the last ninety days. 4.48% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. VR Adviser LLC grew its stake in Viridian Therapeutics by 26.7% during the 4th quarter. VR Adviser LLC now owns 2,699,865 shares of the company’s stock worth $78,863,000 after buying an additional 569,557 shares during the last quarter. Commodore Capital LP grew its stake in Viridian Therapeutics by 64.6% during the 3rd quarter. Commodore Capital LP now owns 2,696,340 shares of the company’s stock worth $55,302,000 after buying an additional 1,057,731 shares during the last quarter. BlackRock Inc. grew its stake in Viridian Therapeutics by 39.3% during the 3rd quarter. BlackRock Inc. now owns 1,982,062 shares of the company’s stock worth $40,653,000 after buying an additional 559,238 shares during the last quarter. Vanguard Group Inc. lifted its position in Viridian Therapeutics by 31.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,856,800 shares of the company’s stock worth $38,083,000 after acquiring an additional 445,898 shares during the period. Finally, Vivo Capital LLC lifted its position in Viridian Therapeutics by 1.1% during the 4th quarter. Vivo Capital LLC now owns 1,678,207 shares of the company’s stock worth $49,020,000 after acquiring an additional 18,188 shares during the period.

Viridian Therapeutics Company Profile

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Viridian Therapeutics, Inc is a clinical stage biopharmaceutical company, which engages in the development of proprietary RNA-targeted therapeutics. Its product candidates include Cobomarsen, which treats patients with certain cancers, including cutaneous T-cell lymphoma and adult T-cell leukemia/lymphoma, and Remlarsen and MRG-229, which are made for the treatment of patients with pathological fibrosis.