Viridian Therapeutics, Inc. (NASDAQ:VRDN) Receives $40.55 Average Price Target from Brokerages

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have earned an average rating of “Moderate Buy” from the twelve research firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $40.5455.

VRDN has been the topic of several analyst reports. Jefferies Financial Group began coverage on shares of Viridian Therapeutics in a research note on Monday, August 25th. They set a “buy” rating and a $44.00 price target on the stock. The Goldman Sachs Group reiterated a “buy” rating and issued a $40.00 price objective on shares of Viridian Therapeutics in a report on Thursday, November 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Viridian Therapeutics in a report on Wednesday, October 8th. BTIG Research reaffirmed a “buy” rating and issued a $61.00 price target on shares of Viridian Therapeutics in a research report on Tuesday, November 4th. Finally, William Blair initiated coverage on Viridian Therapeutics in a report on Wednesday, December 3rd. They set an “outperform” rating on the stock.

Viridian Therapeutics Stock Down 0.4%

VRDN opened at $31.88 on Thursday. The company has a market capitalization of $3.04 billion, a PE ratio of -10.56 and a beta of 0.86. The company has a debt-to-equity ratio of 0.07, a current ratio of 11.28 and a quick ratio of 11.28. Viridian Therapeutics has a fifty-two week low of $9.90 and a fifty-two week high of $33.34. The business has a 50-day moving average of $25.91 and a 200-day moving average of $20.11.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.48. The firm had revenue of $70.57 million for the quarter, compared to the consensus estimate of $16.21 million. Viridian Therapeutics had a negative return on equity of 78.50% and a negative net margin of 426.58%.The company’s quarterly revenue was up 81993.0% compared to the same quarter last year. Equities research analysts forecast that Viridian Therapeutics will post -4.03 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Fairmount Funds Management Llc purchased 454,545 shares of the company’s stock in a transaction dated Thursday, October 23rd. The shares were bought at an average price of $22.00 per share, with a total value of $9,999,990.00. Following the completion of the transaction, the director directly owned 3,914,458 shares in the company, valued at $86,118,076. This trade represents a 13.14% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.65% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Commodore Capital LP lifted its position in Viridian Therapeutics by 35.4% during the 2nd quarter. Commodore Capital LP now owns 4,875,000 shares of the company’s stock worth $68,152,000 after acquiring an additional 1,275,000 shares during the last quarter. Maverick Capital Ltd. increased its stake in shares of Viridian Therapeutics by 9.5% in the second quarter. Maverick Capital Ltd. now owns 2,257,010 shares of the company’s stock worth $31,553,000 after purchasing an additional 195,736 shares during the period. Paradigm Biocapital Advisors LP increased its stake in shares of Viridian Therapeutics by 15.1% in the first quarter. Paradigm Biocapital Advisors LP now owns 2,095,079 shares of the company’s stock worth $28,242,000 after purchasing an additional 275,000 shares during the period. Geode Capital Management LLC lifted its position in shares of Viridian Therapeutics by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,740,614 shares of the company’s stock worth $24,337,000 after purchasing an additional 20,089 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Viridian Therapeutics by 33.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,231,092 shares of the company’s stock valued at $16,595,000 after purchasing an additional 310,998 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.