Viridian Therapeutics (NASDAQ:VRDN) Issues Quarterly Earnings Results

Viridian Therapeutics (NASDAQ:VRDN) announced its earnings results on Thursday. The company reported ($0.81) earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.05 million.

Viridian Therapeutics Stock Performance

Shares of NASDAQ:VRDN opened at $15.29 on Friday. The company has a current ratio of 18.55, a quick ratio of 18.55 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average price of $18.27 and a 200-day moving average price of $19.63. The company has a market cap of $1.21 billion, a price-to-earnings ratio of -3.55 and a beta of 1.32. Viridian Therapeutics has a 12 month low of $11.40 and a 12 month high of $27.20.

Analyst Upgrades and Downgrades

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