Viridian Therapeutics (NASDAQ:VRDN) Releases Earnings Results

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

Viridian Therapeutics Stock Performance

Shares of NASDAQ VRDN traded down $0.82 during midday trading on Thursday, hitting $14.08. The company’s stock had a trading volume of 514,116 shares, compared to its average volume of 913,745. The firm has a market cap of $898.59 million, a P/E ratio of -2.80 and a beta of 1.14. Viridian Therapeutics has a 1-year low of $10.93 and a 1-year high of $28.35. The firm’s fifty day moving average price is $16.46 and its 200-day moving average price is $17.64. The company has a debt-to-equity ratio of 0.09, a quick ratio of 18.26 and a current ratio of 18.26.

Analysts Set New Price Targets

Several research analysts recently commented on VRDN shares. Wedbush boosted their price target on Viridian Therapeutics from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. HC Wainwright reaffirmed a “buy” rating and issued a $37.00 target price on shares of Viridian Therapeutics in a research report on Thursday, February 29th. LADENBURG THALM/SH SH downgraded shares of Viridian Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday. B. Riley lowered shares of 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. Finally, Needham & Company LLC reiterated a “buy” rating and set a $30.00 price objective on shares of Viridian Therapeutics in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Viridian Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $36.10.

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.