Viridian Therapeutics, Inc. (NASDAQ:VRDN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have earned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $42.4286.

VRDN has been the subject of a number of research reports. William Blair started coverage on shares of Viridian Therapeutics in a report on Wednesday, December 3rd. They set an “outperform” rating for the company. Oppenheimer increased their price objective on Viridian Therapeutics from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Evercore ISI reissued an “outperform” rating and set a $44.00 price objective on shares of Viridian Therapeutics in a research note on Tuesday, January 20th. Royal Bank Of Canada boosted their target price on Viridian Therapeutics from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Finally, Wedbush upped their target price on Viridian Therapeutics from $42.00 to $47.00 and gave the company an “outperform” rating in a report on Wednesday, December 10th.

Insider Buying and Selling

In other Viridian Therapeutics news, insider Jennifer Tousignant sold 2,272 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $31.16, for a total value of $70,795.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Viridian Therapeutics

Hedge funds have recently made changes to their positions in the company. Commodore Capital LP grew 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 purchasing an additional 1,275,000 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Viridian Therapeutics by 314.9% in the third quarter. Wellington Management Group LLP now owns 1,122,532 shares of the company’s stock worth $24,224,000 after buying an additional 851,989 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Viridian Therapeutics by 135.6% during the third quarter. Fisher Asset Management LLC now owns 1,201,226 shares of the company’s stock valued at $25,922,000 after buying an additional 691,267 shares in the last quarter. Rice Hall James & Associates LLC raised its position in Viridian Therapeutics by 65.2% during the third quarter. Rice Hall James & Associates LLC now owns 851,663 shares of the company’s stock valued at $18,379,000 after buying an additional 336,040 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Viridian Therapeutics by 33.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,231,092 shares of the company’s stock valued at $16,595,000 after buying an additional 310,998 shares during the period.

Viridian Therapeutics Price Performance

Shares of NASDAQ:VRDN opened at $33.54 on Friday. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of -11.11 and a beta of 0.90. 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 12 month low of $9.90 and a 12 month high of $34.29. The stock’s 50 day moving average price is $31.88 and its 200 day moving average price is $24.47.

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

About Viridian Therapeutics

Viridian Therapeutics, Inc (NASDAQ: VRDN) is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted antibody therapeutics for patients suffering from rare and serious diseases. The company’s lead program, VRDN-001, is a fully human monoclonal antibody that antagonizes the insulin-like growth factor-1 receptor (IGF-1R), with an initial focus on thyroid eye disease (TED). By selectively inhibiting IGF-1R signaling, VRDN-001 aims to reduce inflammation and tissue remodeling associated with TED and related disorders.

In addition to VRDN-001, Viridian is advancing a second antibody program, VRDN-002, which targets complement-mediated pathways implicated in autoimmune and inflammatory diseases.