These Analysts Revise Their Forecasts On Viridian Therapeutics Following Q2 Results

Viridian Therapeutics, Inc. VRDN reported upbeat results for the second quarter on Wednesday.

The company posted quarterly losses of $(1.00) per share which beat the analyst consensus estimate of $(1.02) per share. The company reported quarterly sales of $75.000 thousand which beat the analyst consensus estimate of $43.643 thousand.

“Veligrotug’s recent Breakthrough Therapy Designation as well as the continued and consistent performance of veligrotug across all of the endpoints and timepoints in our pivotal clinical trials, including the latest update on durability of response, showcase the momentum Viridian is building as we approach our planned BLA filing and expected commercial launch,” said Steve Mahoney, Viridian’s President and CEO. “We are making extraordinary progress on our commercial preparation and we plan to be launch-ready on a Priority Review designation timeline, if we receive it. In parallel to U.S. commercial launch planning, the recently announced license agreement with Kissei to develop and commercialize veligrotug and VRDN-003 in Japan further validates the value of our TED programs and the potential broad global opportunities in front of us. Overall, we are very pleased with our progress across our portfolio, including continuing to advance our FcRn inhibitors, VRDN-006 and VRDN-008, and look forward to sharing the outcomes from our upcoming milestones.”

Viridian Therapeutics shares fell 4.1% to $16.50 on Thursday.

These analysts made changes to their price targets on Viridian Therapeutics following earnings announcement.

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Oppenheimer analyst Leland Gershell maintained Viridian Therapeutics with an Outperform rating and raised the price target from $28 to $32.
Goldman Sachs analyst Richard Law maintained Viridian Therapeutics with a Buy and raised the price target from $27 to $30.
RBC Capital analyst Lisa Walter maintained the stock with an Outperform rating and lowered the price target from $45 to $41.
Wells Fargo analyst Derek Archila maintained the stock with an Equal-Weight rating and lowered the price target from $27 to $26.

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