Viridian Therapeutics (NASDAQ:VRDN) Issues Quarterly Earnings Results

Viridian Therapeutics (NASDAQ:VRDN) issued its earnings results on Wednesday. The company reported ($0.79) EPS for the quarter, topping the consensus estimate 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 firm had revenue of $0.07 million during the quarter, compared to analysts’ expectations of $0.09 million. During the same period last year, the business earned ($1.61) earnings per share. Viridian Therapeutics’s quarterly revenue was down 26.5% compared to the same quarter last year.

Viridian Therapeutics Stock Performance

Shares of VRDN traded down $0.99 during mid-day trading on Thursday, reaching $13.91. The company’s stock had a trading volume of 1,728,205 shares, compared to its average volume of 923,026. The company has a current ratio of 18.26, a quick ratio of 18.26 and a debt-to-equity ratio of 0.09. The stock has a market cap of $887.74 million, a P/E ratio of -2.61 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 business has a 50-day simple moving average of $16.46 and a two-hundred day simple moving average of $17.64.

Analyst Ratings Changes

VRDN has been the subject of a number of analyst reports. 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. Oppenheimer cut their price objective on Viridian Therapeutics from $36.00 to $31.00 and set an “outperform” rating for the company in a report on Thursday. LADENBURG THALM/SH SH cut Viridian Therapeutics from a “buy” rating to a “neutral” rating in a report on Thursday. B. Riley cut Viridian Therapeutics from a “buy” rating to a “neutral” rating and decreased their price target for the company from $25.00 to $20.00 in a report on Thursday. Finally, HC Wainwright dropped their price objective on shares of Viridian Therapeutics from $37.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.