Viridian Therapeutics, Inc. (NASDAQ:VRDN) Receives $35.70 Consensus Price Target from Analysts

Viridian Therapeutics, Inc. (NASDAQ:VRDN) has earned an average recommendation of “Moderate Buy” from the twelve analysts that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $35.70.

VRDN has been the topic of a number of research reports. Wells Fargo & Company reiterated an “equal weight” rating and issued a $27.00 target price (down from $37.00) on shares of Viridian Therapeutics in a report on Thursday, December 19th. Royal Bank of Canada upped their price target on Viridian Therapeutics from $44.00 to $47.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Needham & Company LLC restated a “buy” rating and issued a $38.00 target price on shares of Viridian Therapeutics in a report on Tuesday, January 7th. HC Wainwright reaffirmed a “buy” rating and set a $34.00 target price on shares of Viridian Therapeutics in a report on Monday, December 16th. Finally, TD Cowen started coverage on Viridian Therapeutics in a research note on Monday, November 25th. They issued a “buy” rating on the stock.

Viridian Therapeutics Stock Performance

VRDN opened at $19.38 on Wednesday. Viridian Therapeutics has a 1-year low of $11.40 and a 1-year high of $27.20. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -4.50 and a beta of 1.13. The business has a 50 day moving average price of $19.41 and a two-hundred day moving average price of $19.43. 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 announced its earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing the consensus estimate of ($1.11) by ($0.04). Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. The firm had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.08 million. Research analysts predict that Viridian Therapeutics will post -4.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of VRDN. FMR LLC lifted its holdings in shares of Viridian Therapeutics by 16.8% during the 3rd quarter. FMR LLC now owns 11,183,478 shares of the company’s stock valued at $254,424,000 after buying an additional 1,610,130 shares during the last quarter. Novo Holdings A S raised its holdings in shares of Viridian Therapeutics by 19.3% during the 3rd quarter. Novo Holdings A S now owns 2,385,000 shares of the company’s stock valued at $54,259,000 after purchasing an additional 385,000 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of 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 buying an additional 81,951 shares during the last quarter. Great Point Partners LLC boosted its position in Viridian Therapeutics by 50.0% during the third quarter. Great Point Partners LLC now owns 750,000 shares of the company’s stock worth $17,062,000 after purchasing an additional 250,000 shares during the period. Finally, Walleye Capital LLC grew its stake in Viridian Therapeutics by 30.1% in the 3rd quarter. Walleye Capital LLC now owns 560,007 shares of the company’s stock valued at $12,740,000 after buying an additional 129,411 shares during the last quarter.

About Viridian Therapeutics

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.