Viridian Therapeutics (NASDAQ:VRDN) Posts Quarterly Earnings Results, Beats Estimates By $0.28 EPS

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. The company had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.09 million. Viridian Therapeutics had a negative net margin of 75,711.48% and a negative return on equity of 121.80%. The firm’s revenue for the quarter was down 26.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.61) earnings per share.

Viridian Therapeutics Stock Performance

Shares of VRDN traded down $0.82 during trading hours on Thursday, hitting $14.08. The stock had a trading volume of 514,116 shares, compared to its average volume of 913,745. Viridian Therapeutics has a 12 month low of $10.93 and a 12 month high of $28.35. The firm has a market capitalization of $898.59 million, a PE ratio of -2.80 and a beta of 1.14. The company has a debt-to-equity ratio of 0.09, a current ratio of 18.26 and a quick ratio of 18.26. The stock has a fifty day moving average price of $16.46 and a 200 day moving average price of $17.64.

Analysts Set New Price Targets

VRDN has been the subject of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $37.00 price objective on shares of Viridian Therapeutics in a research note on Thursday, February 29th. B. Riley lowered Viridian Therapeutics from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $25.00 to $20.00 in a research report on Thursday. Wedbush upped their target price on Viridian Therapeutics from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price target on shares of Viridian Therapeutics in a report on Thursday. Finally, LADENBURG THALM/SH SH downgraded shares of Viridian Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.