Viridian Therapeutics (NASDAQ:VRDN) Releases Quarterly Earnings Results, Beats Expectations By $0.21 EPS

Viridian Therapeutics (NASDAQ:VRDN) released its earnings results on Wednesday. The company reported ($0.81) EPS for the quarter, topping the consensus estimate of ($1.02) by $0.21, FiscalAI reports. Viridian Therapeutics had a negative net margin of 505.86% and a negative return on equity of 72.97%. The firm had revenue of $25.75 million for the quarter, compared to the consensus estimate of $4.72 million.

Here are the key takeaways from Viridian Therapeutics’ conference call:

• LUMVOA generated $24.7 million in net product revenue in its first launch quarter, with more than 100 patients having started treatment by September 30. Management said the revenue was demand-driven, not primarily inventory stocking.
• The company reported payer policies covering 30% of covered lives by quarter-end, with parity access in almost all cases, and said it remains on track for broad coverage six to nine months after launch. CMS assigned LUMVOA a permanent J-code effective January 1, 2027.
• Management called the launch encouraging but emphasized it is still early and said uptake will need to be assessed over subsequent quarters; it declined to provide Q4 guidance or quantify market share.
• Viridian said it remains on track to submit elegrobart’s BLA in Q1 2027, expects to begin a Phase I trial of VRDN-292 in Graves’ disease later this quarter, and plans to share first-in-human data for VRDN-008 later this quarter.
• The company ended the quarter with just over $955 million in cash, cash equivalents, and marketable securities, which management said is sufficient to fund current business plans through profitability.

Viridian Therapeutics Price Performance

Shares of Viridian Therapeutics stock traded up $3.07 during trading hours on Wednesday, reaching $28.22. The company’s stock had a trading volume of 7,792,971 shares, compared to its average volume of 2,136,127. The firm has a 50 day moving average price of $21.70 and a 200-day moving average price of $21.87. The company has a debt-to-equity ratio of 0.43, a current ratio of 16.95 and a quick ratio of 16.95. The stock has a market cap of $3.20 billion, a P/E ratio of -8.40 and a beta of 1.07. Viridian Therapeutics has a one year low of $13.18 and a one year high of $34.29.

Analysts Set New Price Targets

VRDN has been the subject of several research analyst reports. Truist Financial raised their target price on shares of Viridian Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Weiss Ratings upgraded shares of Viridian Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 14th. Wall Street Zen downgraded shares of Viridian Therapeutics from a “sell” rating to a “strong sell” rating in a report on Sunday, October 4th. Finally, Royal Bank Of Canada raised their price objective on Viridian Therapeutics from $36.00 to $38.00 and gave the company an “outperform” rating in a research report on Tuesday, September 22nd. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.91.

Insider Activity at Viridian Therapeutics

In related news, insider Jennifer Tousignant sold 14,212 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $24.50, for a total value of $348,194.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.40% of the company’s stock.

About Viridian Therapeutics

Viridian Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious autoimmune diseases. The company’s lead research area is thyroid eye disease (TED), a debilitating condition that can cause eye inflammation, swelling, pain and vision-related complications.

Viridian’s pipeline is centered on antibodies designed to inhibit the insulin-like growth factor-1 receptor (IGF-1R), a target associated with TED. Its investigational therapies include veligrotug (VRDN-001), an intravenous treatment candidate, and VRDN-003, a subcutaneous formulation being developed to provide a more convenient administration option.