Viridian Therapeutics, Inc. (NASDAQ:VRDN) Receives $42.21 Consensus PT from Brokerages

Viridian Therapeutics, Inc. (NASDAQ:VRDN) has received a consensus rating of “Moderate Buy” from the fifteen brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $42.2143.

A number of analysts have recently weighed in on VRDN shares. Wedbush reissued an “outperform” rating and set a $44.00 price target on shares of Viridian Therapeutics in a research report on Wednesday, March 11th. Evercore reaffirmed an “outperform” rating and issued a $44.00 price target on shares of Viridian Therapeutics in a report on Tuesday, January 20th. William Blair assumed coverage on shares of Viridian Therapeutics in a research note on Wednesday, December 3rd. They set an “outperform” rating on the stock. Wells Fargo & Company raised their price objective on shares of Viridian Therapeutics from $26.00 to $29.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. Finally, Truist Financial dropped their target price on shares of Viridian Therapeutics from $41.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, January 8th.

Insiders Place Their Bets

In related news, insider Jennifer Tousignant sold 2,272 shares of the business’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $31.16, for a total value of $70,795.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.58% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Viridian Therapeutics

A number of institutional investors have recently made changes to their positions in VRDN. Avoro Capital Advisors LLC acquired a new stake in shares of Viridian Therapeutics during the 4th quarter valued at approximately $46,680,000. Seven Fleet Capital Management LP acquired a new position in Viridian Therapeutics in the fourth quarter worth $456,000. Virtu Financial LLC acquired a new position in Viridian Therapeutics in the fourth quarter worth $531,000. Invesco Ltd. increased its stake in Viridian Therapeutics by 127.1% during the fourth quarter. Invesco Ltd. now owns 183,468 shares of the company’s stock valued at $5,710,000 after purchasing an additional 102,676 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in Viridian Therapeutics during the fourth quarter valued at $1,464,000.

Viridian Therapeutics Trading Down 3.0%

Shares of VRDN opened at $27.73 on Friday. The company has a market capitalization of $2.83 billion, a P/E ratio of -8.43 and a beta of 1.00. Viridian Therapeutics has a one year low of $9.90 and a one year high of $34.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 12.65 and a current ratio of 12.65. The stock has a 50-day moving average price of $30.38 and a 200 day moving average price of $27.42.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.18). Viridian Therapeutics had a negative net margin of 483.57% and a negative return on equity of 83.25%. The business had revenue of $0.13 million for the quarter, compared to analyst estimates of $15.75 million. Sell-side analysts forecast that Viridian Therapeutics will post -4.03 EPS 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.