Analysts Set Viridian Therapeutics, Inc. (NASDAQ:VRDN) Price Target at $35.30

Viridian Therapeutics, Inc. (NASDAQ:VRDN) has received a consensus rating of “Moderate Buy” from the eleven analysts that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $35.80.

Several research firms have recently commented on VRDN. Wolfe Research started coverage on shares of Viridian Therapeutics in a research note on Tuesday, June 11th. They set an “outperform” rating and a $29.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $44.00 price objective on shares of Viridian Therapeutics in a research report on Thursday, September 19th. HC Wainwright restated a “buy” rating and set a $27.00 target price on shares of Viridian Therapeutics in a research report on Tuesday, September 10th. Needham & Company LLC upped their price target on Viridian Therapeutics from $30.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, BTIG Research lifted their price objective on Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday.

Insider Activity at Viridian Therapeutics

In other news, Director Fairmount Funds Management Llc acquired 1,600,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was purchased at an average price of $18.75 per share, for a total transaction of $30,000,000.00. Following the completion of the acquisition, the director now owns 3,445,813 shares in the company, valued at $64,608,993.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.65% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VRDN. Ameritas Investment Partners Inc. boosted its holdings 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 valued at $87,000 after buying an additional 799 shares during the period. Quest Partners LLC increased its holdings in Viridian Therapeutics by 344.0% during 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. Principal Financial Group Inc. increased its holdings in Viridian Therapeutics by 9.7% during 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings 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 valued at $156,000 after purchasing an additional 2,359 shares in the last quarter. Finally, AlphaCentric Advisors LLC lifted its stake in Viridian Therapeutics by 108.3% in the 2nd quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock valued at $163,000 after acquiring an additional 6,500 shares in the last quarter.

Viridian Therapeutics Trading Up 1.2 %

Shares of VRDN opened at $23.33 on Thursday. The stock has a fifty day moving average price of $16.99 and a two-hundred day moving average price of $15.22. The company has a debt-to-equity ratio of 0.05, a quick ratio of 15.82 and a current ratio of 15.82. The company has a market cap of $1.49 billion, a price-to-earnings ratio of -5.18 and a beta of 1.03. Viridian Therapeutics has a 52-week low of $10.93 and a 52-week high of $24.18.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.15). The company had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.09 million. Viridian Therapeutics had a negative return on equity of 83.18% and a negative net margin of 79,185.77%. Analysts predict that Viridian Therapeutics will post -3.94 EPS for the current fiscal year.

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.