Brokerages Set Viridian Therapeutics, Inc. (NASDAQ:VRDN) Target Price at $38.79

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have been assigned a consensus rating of “Moderate Buy” from the fourteen brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and thirteen have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $38.7857.

A number of equities research analysts have commented on the stock. HC Wainwright decreased their price objective on shares of Viridian Therapeutics from $34.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, March 31st. Stifel Nicolaus set a $39.00 target price on Viridian Therapeutics in a research report on Wednesday, May 13th. The Goldman Sachs Group reiterated a “buy” rating and issued a $39.00 price target on shares of Viridian Therapeutics in a report on Tuesday, June 30th. Evercore set a $26.00 target price on shares of Viridian Therapeutics in a research report on Friday, May 15th. Finally, Royal Bank Of Canada raised their price objective on shares of Viridian Therapeutics from $34.00 to $35.00 and gave the company an “outperform” rating in a research note on Tuesday, June 30th.

Viridian Therapeutics Stock Up 3.3%

Shares of NASDAQ VRDN opened at $19.18 on Friday. Viridian Therapeutics has a 52-week low of $13.18 and a 52-week high of $34.29. The company has a debt-to-equity ratio of 0.10, a quick ratio of 15.15 and a current ratio of 15.15. The business has a fifty day moving average of $17.57 and a two-hundred day moving average of $22.65. The stock has a market cap of $1.98 billion, a PE ratio of -5.78 and a beta of 0.90.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.90) EPS for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.16. The firm had revenue of $0.14 million for the quarter, compared to analyst estimates of $0.04 million. Viridian Therapeutics had a negative net margin of 490.31% and a negative return on equity of 80.19%. The company’s revenue for the quarter was up 95.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.87) earnings per share. As a group, equities research analysts expect that Viridian Therapeutics will post -3.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Fairmount Funds Management Llc bought 1,176,470 shares of the business’s stock in a transaction on Monday, May 11th. The shares were purchased at an average price of $17.00 per share, with a total value of $19,999,990.00. Following the completion of the purchase, the director owned 5,090,928 shares of the company’s stock, valued at $86,545,776. This represents a 30.05% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hudson Bay Capital Management LP lifted its stake in Viridian Therapeutics by 46.6% in the third quarter. Hudson Bay Capital Management LP now owns 175,251 shares of the company’s stock valued at $3,782,000 after buying an additional 55,689 shares in the last quarter. Perceptive Advisors LLC increased its position in shares of Viridian Therapeutics by 108.1% during the fourth quarter. Perceptive Advisors LLC now owns 3,042,703 shares of the company’s stock worth $94,689,000 after acquiring an additional 1,580,303 shares in the last quarter. Jennison Associates LLC acquired a new stake in shares of Viridian Therapeutics during the fourth quarter worth $35,915,000. Avoro Capital Advisors LLC acquired a new position in Viridian Therapeutics in the 4th quarter worth $46,680,000. Finally, Vanguard Group Inc. increased its holdings in Viridian Therapeutics by 29.6% during the 4th quarter. Vanguard Group Inc. now owns 5,612,144 shares of the company’s stock worth $174,650,000 after purchasing an additional 1,280,161 shares in the last quarter.

Viridian Therapeutics Company Profile

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.