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

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have been assigned a consensus rating of “Moderate Buy” from the eleven brokerages that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $35.80.

A number of equities analysts recently weighed in on VRDN shares. Wedbush reissued an “outperform” rating and issued a $42.00 price target on shares of Viridian Therapeutics in a report on Monday, July 29th. Oppenheimer reaffirmed an “outperform” rating and issued a $28.00 price objective (down previously from $31.00) on shares of Viridian Therapeutics in a research report on Monday, August 12th. Royal Bank of Canada reissued an “outperform” rating and set a $44.00 target price on shares of Viridian Therapeutics in a research report on Thursday, September 19th. Needham & Company LLC raised their price target on shares of Viridian Therapeutics from $30.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective on shares of Viridian Therapeutics in a research note on Tuesday, September 10th.

Insider Buying and Selling

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc bought 1,600,000 shares of the stock in a transaction on Friday, September 13th. The shares were acquired at an average price of $18.75 per share, with a total value of $30,000,000.00. Following the acquisition, the director now directly owns 3,445,813 shares of the company’s stock, valued at $64,608,993.75. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Stephen F. Mahoney purchased 21,400 shares of the stock in a transaction dated Friday, September 27th. The shares were purchased at an average cost of $23.33 per share, with a total value of $499,262.00. Following the completion of the acquisition, the chief executive officer now owns 21,400 shares in the company, valued at $499,262. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Fairmount Funds Management Llc acquired 1,600,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was purchased at an average price of $18.75 per share, with a total value of $30,000,000.00. Following the completion of the transaction, the director now directly owns 3,445,813 shares of the company’s stock, valued at $64,608,993.75. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 1,626,400 shares of company stock valued at $30,616,312. Company insiders own 0.65% of the company’s stock.

Institutional Trading of Viridian Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of VRDN. Ameritas Investment Partners Inc. grew its position in shares of Viridian Therapeutics by 19.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock valued at $87,000 after purchasing an additional 799 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Viridian Therapeutics by 9.7% during the first quarter. Principal Financial Group Inc. now owns 11,915 shares of the company’s stock valued at $209,000 after buying an additional 1,058 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Viridian Therapeutics by 4.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,822 shares of the company’s stock worth $505,000 after buying an additional 1,135 shares in the last quarter. Arizona State Retirement System grew its position in Viridian Therapeutics by 14.7% during the second quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock worth $171,000 after buying an additional 1,688 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Viridian Therapeutics by 24.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock worth $156,000 after acquiring an additional 2,359 shares during the last quarter.

Viridian Therapeutics Price Performance

Shares of NASDAQ VRDN opened at $24.98 on Monday. The company has a market capitalization of $1.59 billion, a PE ratio of -5.55 and a beta of 1.08. The company has a quick ratio of 15.82, a current ratio of 15.82 and a debt-to-equity ratio of 0.05. The stock’s 50 day moving average price is $19.33 and its 200-day moving average price is $15.85. Viridian Therapeutics has a twelve month low of $10.93 and a twelve month high of $25.39.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly 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%. On average, equities analysts anticipate that Viridian Therapeutics will post -3.94 EPS for the current year.

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.