Viridian Therapeutics (NASDAQ:VRDN) Announces Earnings Results, Beats Expectations By $0.28 EPS

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

Viridian Therapeutics Stock Down 6.6 %

NASDAQ VRDN traded down $0.99 during mid-day trading on Thursday, reaching $13.91. 1,728,205 shares of the company’s stock traded hands, compared to its average volume of 923,026. The company has a fifty day simple moving average of $16.46 and a 200-day simple moving average of $17.64. Viridian Therapeutics has a 1-year low of $10.93 and a 1-year high of $28.35. The company has a market cap of $887.74 million, a price-to-earnings ratio of -2.61 and a beta of 1.14. The company has a current ratio of 18.26, a quick ratio of 18.26 and a debt-to-equity ratio of 0.09.

Wall Street Analysts Forecast Growth

Several research firms have commented on VRDN. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price objective on shares of Viridian Therapeutics in a research note on Thursday. B. Riley cut shares of Viridian Therapeutics from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $25.00 to $20.00 in a research note on Thursday. HC Wainwright cut their price target on shares of Viridian Therapeutics from $37.00 to $27.00 and set a “buy” rating for the company in a report on Thursday. Wedbush increased their price objective on Viridian Therapeutics from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. Finally, Oppenheimer lowered their target price on Viridian Therapeutics from $36.00 to $31.00 and set an “outperform” rating on the stock in a report on Thursday. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Viridian Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.60.

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.