Viridian Therapeutics (NASDAQ:VRDN) Announces Quarterly Earnings Results

Viridian Therapeutics (NASDAQ:VRDN) released its quarterly earnings data on Wednesday. The company reported ($0.79) EPS for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.28, Briefing.com reports. Viridian Therapeutics had a negative return on equity of 121.80% and a negative net margin of 75,711.48%. The business had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.09 million. During the same quarter in the prior year, the business posted ($1.61) EPS. The business’s revenue for the quarter was down 26.5% on a year-over-year basis.

Viridian Therapeutics Trading Down 6.6 %

Shares of NASDAQ VRDN traded down $0.99 on Thursday, reaching $13.91. 1,728,245 shares of the company traded hands, compared to its average volume of 924,550. The company has a 50 day moving average of $16.46 and a 200 day moving average of $17.64. The company has a current ratio of 18.26, a quick ratio of 18.26 and a debt-to-equity ratio of 0.09. Viridian Therapeutics has a fifty-two week low of $10.93 and a fifty-two week high of $28.35. The stock has a market capitalization of $887.74 million, a PE ratio of -2.61 and a beta of 1.14.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Wedbush increased their price objective on Viridian Therapeutics from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. B. Riley downgraded Viridian Therapeutics from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $25.00 to $20.00 in a research note on Thursday. LADENBURG THALM/SH SH downgraded Viridian Therapeutics from a “buy” rating to a “neutral” rating in a research note on Thursday. Needham & Company LLC restated a “buy” rating and set a $30.00 price target on shares of Viridian Therapeutics in a research note on Thursday. Finally, Oppenheimer dropped their price target on Viridian Therapeutics from $36.00 to $31.00 and set an “outperform” rating on the stock in a research note on Thursday. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.