Royal Bank of Canada Has Lowered Expectations for Viridian Therapeutics (NASDAQ:VRDN) Stock Price

Viridian Therapeutics (NASDAQ:VRDN) had its target price reduced by Royal Bank of Canada from $46.00 to $45.00 in a report released on Wednesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Needham & Company LLC lowered their target price on shares of Viridian Therapeutics from $38.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday. JMP Securities dropped their target price on Viridian Therapeutics from $42.00 to $38.00 and set a “market outperform” rating on the stock in a report on Wednesday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $34.00 price target on shares of Viridian Therapeutics in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $36.70.

Viridian Therapeutics Price Performance

Shares of NASDAQ:VRDN opened at $12.54 on Wednesday. The company has a current ratio of 18.55, a quick ratio of 18.55 and a debt-to-equity ratio of 0.04. The firm’s 50 day moving average is $13.71 and its two-hundred day moving average is $17.53. The firm has a market capitalization of $1.02 billion, a P/E ratio of -2.91 and a beta of 0.57. Viridian Therapeutics has a 52 week low of $9.90 and a 52 week high of $27.20.

Viridian Therapeutics (NASDAQ:VRDN) last announced its earnings results on Tuesday, May 6th. The company reported ($0.87) earnings per share for the quarter, beating the consensus estimate of ($0.95) by $0.08. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. The firm had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.16 million. The company’s revenue was up .0% compared to the same quarter last year. Analysts anticipate that Viridian Therapeutics will post -4.03 earnings per share for the current year.

Institutional Investors Weigh In On Viridian Therapeutics

A number of large investors have recently made changes to their positions in VRDN. Barclays PLC raised its stake in Viridian Therapeutics by 113.1% during the 3rd quarter. Barclays PLC now owns 125,397 shares of the company’s stock valued at $2,851,000 after purchasing an additional 66,550 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Viridian Therapeutics by 218.5% during the third quarter. JPMorgan Chase & Co. now owns 400,351 shares of the company’s stock valued at $9,108,000 after buying an additional 274,641 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Viridian Therapeutics by 6.8% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 210,899 shares of the company’s stock valued at $4,043,000 after buying an additional 13,498 shares during the period. SG Americas Securities LLC lifted its stake in Viridian Therapeutics by 89.1% in the 4th quarter. SG Americas Securities LLC now owns 31,085 shares of the company’s stock worth $596,000 after acquiring an additional 14,644 shares in the last quarter. Finally, Moody Aldrich Partners LLC acquired a new stake in Viridian Therapeutics during the 4th quarter worth about $1,125,000.

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.