Viridian Therapeutics, Inc. (NASDAQ:VRDN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Viridian Therapeutics, Inc. (NASDAQ:VRDN) has earned an average rating of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $31.20.

A number of research analysts have weighed in on the stock. Oppenheimer reiterated an “outperform” rating and issued a $28.00 target price (down from $31.00) on shares of Viridian Therapeutics in a research note on Monday, August 12th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price objective on shares of Viridian Therapeutics in a research note on Friday. HC Wainwright reissued a “buy” rating and issued a $27.00 target price on shares of Viridian Therapeutics in a research report on Thursday, August 15th. LADENBURG THALM/SH SH cut Viridian Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday, May 9th. Finally, Wolfe Research assumed coverage on Viridian Therapeutics in a research note on Tuesday, June 11th. They issued an “outperform” rating and a $29.00 price objective on the stock.

Viridian Therapeutics Stock Performance

Shares of Viridian Therapeutics stock opened at $14.68 on Friday. The business’s fifty day simple moving average is $14.58 and its 200 day simple moving average is $15.16. The company has a current ratio of 15.82, a quick ratio of 15.82 and a debt-to-equity ratio of 0.05. Viridian Therapeutics has a 12 month low of $10.93 and a 12 month high of $24.18. The firm has a market capitalization of $936.91 million, a P/E ratio of -3.26 and a beta of 1.13.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.15). The business had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.09 million. Viridian Therapeutics had a negative return on equity of 83.18% and a negative net margin of 79,185.77%. As a group, analysts anticipate that Viridian Therapeutics will post -3.98 EPS for the current year.

Hedge Funds Weigh In On Viridian Therapeutics

Several hedge funds have recently bought and sold shares of the company. Quest Partners LLC lifted its stake in Viridian Therapeutics by 344.0% in the 2nd quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock worth $79,000 after purchasing an additional 4,692 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in shares of Viridian Therapeutics by 19.2% in the first quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock worth $87,000 after buying an additional 799 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Viridian Therapeutics by 24.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock worth $156,000 after buying an additional 2,359 shares in the last quarter. AlphaCentric Advisors LLC boosted its stake in Viridian Therapeutics by 108.3% during the second quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock valued at $163,000 after buying an additional 6,500 shares during the period. Finally, Arizona State Retirement System raised its holdings in shares of Viridian Therapeutics by 14.7% in the 2nd quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock valued at $171,000 after acquiring an additional 1,688 shares in 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.