Viridian Therapeutics (NASDAQ:VRDN) Price Target Raised to $56.00 at BTIG Research

Viridian Therapeutics (NASDAQ:VRDN) had its price objective lifted by BTIG Research from $46.00 to $56.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also recently issued reports on VRDN. Royal Bank of Canada reiterated an outperform rating and set a $35.00 price objective on shares of Viridian Therapeutics in a report on Wednesday, August 28th. HC Wainwright reissued a buy rating and set a $27.00 price objective on shares of Viridian Therapeutics in a report on Thursday, August 15th. Needham & Company LLC reissued a buy rating and issued a $30.00 price objective on shares of Viridian Therapeutics in a research note on Friday, August 30th. Wolfe Research assumed coverage on Viridian Therapeutics in a research report on Tuesday, June 11th. They set an outperform rating and a $29.00 target price on the stock. Finally, Oppenheimer reissued an outperform rating and issued a $28.00 price target (down from $31.00) on shares of Viridian Therapeutics in a research report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Viridian Therapeutics has an average rating of Moderate Buy and an average price target of $33.45.

Viridian Therapeutics Stock Up 32.1 %

Shares of NASDAQ:VRDN opened at $18.75 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 15.82 and a current ratio of 15.82. Viridian Therapeutics has a 52-week low of $10.93 and a 52-week high of $24.18. The business’s 50 day simple moving average is $14.88 and its two-hundred day simple moving average is $14.96. The firm has a market cap of $1.20 billion, a P/E ratio of -4.17 and a beta of 1.03.

Viridian Therapeutics (NASDAQ:VRDN) last issued its earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.15). The firm had revenue of $0.07 million during 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, research analysts forecast that Viridian Therapeutics will post -3.97 EPS for the current fiscal year.

Institutional Investors Weigh In On Viridian Therapeutics

A number of hedge funds have recently made changes to their positions in the business. Ameritas Investment Partners Inc. raised its position in 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 acquiring an additional 799 shares during the period. Swiss National Bank increased its stake in shares of Viridian Therapeutics by 1.2% during the 4th quarter. Swiss National Bank now owns 67,200 shares of the company’s stock worth $1,464,000 after purchasing an additional 800 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Viridian Therapeutics by 9.7% in the 1st quarter. Principal Financial Group Inc. now owns 11,915 shares of the company’s stock worth $209,000 after purchasing an additional 1,058 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Viridian Therapeutics by 4.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,822 shares of the company’s stock valued at $505,000 after purchasing an additional 1,135 shares during the last quarter. Finally, New York State Common Retirement Fund grew its holdings in Viridian Therapeutics by 9.7% during the fourth quarter. New York State Common Retirement Fund now owns 17,495 shares of the company’s stock valued at $378,000 after purchasing an additional 1,545 shares during the period.

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.