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

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

Viridian Therapeutics Trading Down 6.6 %

NASDAQ:VRDN traded down $0.99 during mid-day trading on Thursday, reaching $13.91. The company’s stock had a trading volume of 1,728,245 shares, compared to its average volume of 924,550. The company’s fifty day simple moving average is $16.46 and its two-hundred day simple moving average is $17.64. The company has a debt-to-equity ratio of 0.09, a current ratio of 18.26 and a quick ratio of 18.26. Viridian Therapeutics has a twelve month low of $10.93 and a twelve month high of $28.35. The stock has a market cap of $887.74 million, a P/E ratio of -2.61 and a beta of 1.14.

Wall Street Analysts Forecast Growth

VRDN has been the subject of a number of recent research reports. 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. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price objective on shares of Viridian Therapeutics in a research report on Thursday. Oppenheimer decreased their price objective on Viridian Therapeutics from $36.00 to $31.00 and set an “outperform” rating for the company in a research report on Thursday. LADENBURG THALM/SH SH cut Viridian Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday. Finally, B. Riley cut Viridian Therapeutics from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $25.00 to $20.00 in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Viridian Therapeutics has a consensus rating of “Moderate Buy” and a consensus 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.