Viridian Therapeutics (NASDAQ:VRDN) Announces Quarterly Earnings Results, Beats Expectations By $0.21 EPS

Viridian Therapeutics (NASDAQ:VRDN) issued its quarterly earnings results on Wednesday. The company reported ($0.81) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.21, FiscalAI reports. The company had revenue of $25.75 million during the quarter, compared to the consensus estimate of $4.72 million. Viridian Therapeutics had a negative return on equity of 72.97% and a negative net margin of 505.86%.

Here are the key takeaways from Viridian Therapeutics’ conference call:

• LUMVOA generated $24.7 million in net product revenue in its first launch quarter, with more than 100 patients having started treatment by September 30. Management said the revenue was demand-driven, not primarily inventory stocking.
• The company reported payer policies covering 30% of covered lives by quarter-end, with parity access in almost all cases, and said it remains on track for broad coverage six to nine months after launch. CMS assigned LUMVOA a permanent J-code effective January 1, 2027.
• Management called the launch encouraging but emphasized it is still early and said uptake will need to be assessed over subsequent quarters; it declined to provide Q4 guidance or quantify market share.
• Viridian said it remains on track to submit elegrobart’s BLA in Q1 2027, expects to begin a Phase I trial of VRDN-292 in Graves’ disease later this quarter, and plans to share first-in-human data for VRDN-008 later this quarter.
• The company ended the quarter with just over $955 million in cash, cash equivalents, and marketable securities, which management said is sufficient to fund current business plans through profitability.

Viridian Therapeutics Trading Up 12.2%

Shares of NASDAQ:VRDN traded up $3.07 during trading on Wednesday, reaching $28.22. 7,792,971 shares of the company were exchanged, compared to its average volume of 2,136,127. The company has a debt-to-equity ratio of 0.43, a current ratio of 16.95 and a quick ratio of 16.95. The business’s fifty day simple moving average is $21.70 and its 200-day simple moving average is $21.87. The firm has a market capitalization of $3.20 billion, a PE ratio of -8.40 and a beta of 1.07. Viridian Therapeutics has a 12-month low of $13.18 and a 12-month high of $34.29.

Insider Buying and Selling at Viridian Therapeutics

In other Viridian Therapeutics news, insider Jennifer Tousignant sold 14,212 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $24.50, for a total transaction of $348,194.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.40% of the company’s stock.

Wall Street Analyst Weigh In

VRDN has been the subject of several recent analyst reports. Royal Bank Of Canada lifted their price objective on shares of Viridian Therapeutics from $36.00 to $38.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 22nd. Truist Financial increased their target price on shares of Viridian Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Weiss Ratings upgraded shares of Viridian Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, September 14th. Finally, Wall Street Zen lowered shares of Viridian Therapeutics from a “sell” rating to a “strong sell” rating in a report on Sunday, October 4th. Ten research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Viridian Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $36.91.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious autoimmune diseases. The company’s lead research area is thyroid eye disease (TED), a debilitating condition that can cause eye inflammation, swelling, pain and vision-related complications.

Viridian’s pipeline is centered on antibodies designed to inhibit the insulin-like growth factor-1 receptor (IGF-1R), a target associated with TED. Its investigational therapies include veligrotug (VRDN-001), an intravenous treatment candidate, and VRDN-003, a subcutaneous formulation being developed to provide a more convenient administration option.