Viridian Therapeutics (NASDAQ:VRDN) Announces Quarterly Earnings Results

Viridian Therapeutics (NASDAQ:VRDN) posted its quarterly earnings data on Thursday. The company reported ($0.81) earnings per share for the quarter, beating the consensus estimate of ($1.05) by $0.24, Zacks reports. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. The business had revenue of $0.07 million for the quarter, compared to analysts’ expectations of $0.05 million.

Viridian Therapeutics Stock Down 1.5 %

VRDN opened at $15.29 on Friday. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -3.55 and a beta of 1.32. Viridian Therapeutics has a twelve month low of $11.40 and a twelve month high of $27.20. The company has a quick ratio of 18.55, a current ratio of 18.55 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average price of $18.27 and a 200-day moving average price of $19.63.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on VRDN. Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 price target on shares of Viridian Therapeutics in a research note on Tuesday, January 7th. HC Wainwright restated a “buy” rating and set a $34.00 target price on shares of Viridian Therapeutics in a report on Monday, December 16th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $27.00 price target (down from $37.00) on shares of Viridian Therapeutics in a research note on Thursday, December 19th. Royal Bank of Canada boosted their price objective on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Finally, TD Cowen initiated coverage on shares of Viridian Therapeutics in a report on Monday, November 25th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $35.70.

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.