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Strength Seen in Viridian Therapeutics (VRDN): Can Its 8.7% Jump Turn into More Strength?
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Viridian Therapeutics, Inc. (VRDN - Free Report) shares ended the last trading session 8.7% higher at $15.97. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 20.4% gain over the past four weeks.
The sudden soaring of the stock price can be attributed to positive investor mindset regarding the progress of Viridian's clinical-stage pipeline. The company is evaluating its lead candidate, VRDN-001 in active and chronic thyroid eye disease (TED) in two separate late-stage studies, namely THRIVE and THRIVE-2, respectively. While top-line data from the THRIVE study is expected in September, data from the THRIVE-2 study is anticipated before this year’s end. If the outcomes from both studies are positive, Viridian expects to submit a regulatory filing for the drug with the FDA before 2025-end. Last month, Viridian announced detailed plans for a late-stage program on another pipeline drug, VRDN-003, being developed as a subcutaneously administered antibody, to treat patients with moderate-to-severe TED.
This company is expected to post quarterly loss of $0.87 per share in its upcoming report, which represents a year-over-year change of +31.5%. Revenues are expected to be $0.08 million, up 18.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Viridian Therapeutics, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on VRDN going forward to see if this recent jump can turn into more strength down the road.
Viridian Therapeutics is part of the Zacks Medical - Biomedical and Genetics industry. CollPlant Biotechnologies Ltd. Sponsored ADR (CLGN - Free Report) , another stock in the same industry, closed the last trading session 2.4% lower at $4.94. CLGN has returned -0.8% in the past month.
CollPlant Biotechnologies' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.35. Compared to the company's year-ago EPS, this represents a change of -171.4%. CollPlant Biotechnologies currently boasts a Zacks Rank of #3 (Hold).
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Strength Seen in Viridian Therapeutics (VRDN): Can Its 8.7% Jump Turn into More Strength?
Viridian Therapeutics, Inc. (VRDN - Free Report) shares ended the last trading session 8.7% higher at $15.97. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 20.4% gain over the past four weeks.
The sudden soaring of the stock price can be attributed to positive investor mindset regarding the progress of Viridian's clinical-stage pipeline. The company is evaluating its lead candidate, VRDN-001 in active and chronic thyroid eye disease (TED) in two separate late-stage studies, namely THRIVE and THRIVE-2, respectively. While top-line data from the THRIVE study is expected in September, data from the THRIVE-2 study is anticipated before this year’s end. If the outcomes from both studies are positive, Viridian expects to submit a regulatory filing for the drug with the FDA before 2025-end. Last month, Viridian announced detailed plans for a late-stage program on another pipeline drug, VRDN-003, being developed as a subcutaneously administered antibody, to treat patients with moderate-to-severe TED.
This company is expected to post quarterly loss of $0.87 per share in its upcoming report, which represents a year-over-year change of +31.5%. Revenues are expected to be $0.08 million, up 18.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Viridian Therapeutics, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on VRDN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Viridian Therapeutics is part of the Zacks Medical - Biomedical and Genetics industry. CollPlant Biotechnologies Ltd. Sponsored ADR (CLGN - Free Report) , another stock in the same industry, closed the last trading session 2.4% lower at $4.94. CLGN has returned -0.8% in the past month.
CollPlant Biotechnologies' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.35. Compared to the company's year-ago EPS, this represents a change of -171.4%. CollPlant Biotechnologies currently boasts a Zacks Rank of #3 (Hold).