Viridian Therapeutics (NASDAQ:VRDN) Now Covered by Analysts at TD Cowen

Analysts at TD Cowen began coverage on shares of Viridian Therapeutics (NASDAQ:VRDN) in a report issued on Monday, Marketbeat.com reports. The firm set a “buy” rating on the stock.

A number of other research firms also recently weighed in on VRDN. BTIG Research upped their target price on Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Wedbush reissued an “outperform” rating and set a $42.00 price target on shares of Viridian Therapeutics in a report on Monday, July 29th. The Goldman Sachs Group upped their target price on Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 target price on shares of Viridian Therapeutics in a report on Wednesday, November 13th. Finally, HC Wainwright upped their target price on Viridian Therapeutics from $27.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Viridian Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.33.

Viridian Therapeutics Stock Performance

VRDN opened at $21.91 on Monday. The business has a fifty day simple moving average of $22.72 and a 200 day simple moving average of $17.24. The company has a market capitalization of $1.74 billion, a PE ratio of -5.08 and a beta of 1.10. Viridian Therapeutics has a 1 year low of $11.40 and a 1 year high of $27.20. The company has a debt-to-equity ratio of 0.04, a current ratio of 18.55 and a quick ratio of 18.55.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The firm had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.08 million. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. Research analysts expect that Viridian Therapeutics will post -4.04 EPS for the current year.

Insider Activity at Viridian Therapeutics

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc bought 1,600,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were bought at an average price of $18.75 per share, for a total transaction of $30,000,000.00. Following the transaction, the director now directly owns 3,445,813 shares in the company, valued at approximately $64,608,993.75. This trade represents a 86.68 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Thomas W. Beetham bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were acquired at an average price of $23.41 per share, for a total transaction of $117,050.00. Following the transaction, the chief operating officer now owns 6,000 shares in the company, valued at $140,460. This represents a 500.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,626,400 shares of company stock worth $30,616,312 in the last 90 days. Corporate insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Viridian Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC boosted its holdings in Viridian Therapeutics by 16.8% in the third quarter. FMR LLC now owns 11,183,478 shares of the company’s stock worth $254,424,000 after acquiring an additional 1,610,130 shares in the last quarter. Maverick Capital Ltd. boosted its holdings in Viridian Therapeutics by 22.9% in the second quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock worth $43,036,000 after acquiring an additional 615,531 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Viridian Therapeutics by 7.8% in the first quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company’s stock worth $56,632,000 after acquiring an additional 233,331 shares in the last quarter. Novo Holdings A S boosted its holdings in Viridian Therapeutics by 19.3% in the third quarter. Novo Holdings A S now owns 2,385,000 shares of the company’s stock worth $54,259,000 after acquiring an additional 385,000 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Viridian Therapeutics by 5.8% in the third quarter. Geode Capital Management LLC now owns 1,493,311 shares of the company’s stock worth $33,979,000 after acquiring an additional 81,951 shares in the last quarter.

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.