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

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have been given an average recommendation of “Moderate Buy” by the twelve ratings firms that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $35.70.

Several analysts recently commented on VRDN shares. HC Wainwright reaffirmed a “buy” rating and issued a $34.00 price target on shares of Viridian Therapeutics in a research note on Monday, December 16th. BTIG Research boosted their target price on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Needham & Company LLC reiterated a “buy” rating and set a $38.00 target price on shares of Viridian Therapeutics in a research report on Monday, November 25th. Wells Fargo & Company restated an “equal weight” rating and issued a $27.00 price target (down from $37.00) on shares of Viridian Therapeutics in a research report on Thursday, December 19th. Finally, Royal Bank of Canada raised their price objective on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th.

Institutional Trading of Viridian Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Great Point Partners LLC lifted its holdings in Viridian Therapeutics by 50.0% during the 3rd quarter. Great Point Partners LLC now owns 750,000 shares of the company’s stock worth $17,062,000 after buying an additional 250,000 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in shares of Viridian Therapeutics during the third quarter valued at $8,917,000. Rhumbline Advisers boosted its holdings in Viridian Therapeutics by 34.5% in the second quarter. Rhumbline Advisers now owns 90,826 shares of the company’s stock valued at $1,182,000 after acquiring an additional 23,305 shares during the last quarter. Candriam S.C.A. increased its position in Viridian Therapeutics by 167.8% in the second quarter. Candriam S.C.A. now owns 749,804 shares of the company’s stock worth $9,754,000 after purchasing an additional 469,804 shares during the period. Finally, Novo Holdings A S raised its holdings in Viridian Therapeutics by 19.3% during the 3rd quarter. Novo Holdings A S now owns 2,385,000 shares of the company’s stock worth $54,259,000 after purchasing an additional 385,000 shares during the last quarter.

Viridian Therapeutics Price Performance

NASDAQ:VRDN opened at $20.19 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 18.55 and a current ratio of 18.55. The company has a 50-day moving average of $20.83 and a 200-day moving average of $18.60. Viridian Therapeutics has a 52 week low of $11.40 and a 52 week high of $27.20. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -4.68 and a beta of 1.04.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.08 million. As a group, equities research analysts anticipate that Viridian Therapeutics will post -4.03 earnings per share 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.