Viridian Therapeutics (NASDAQ:VRDN) Earns “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Viridian Therapeutics (NASDAQ:VRDN) in a research note issued to investors on Thursday, Benzinga reports. Royal Bank of Canada currently has a $44.00 price objective on the stock.

VRDN has been the subject of a number of other research reports. Oppenheimer reissued an outperform rating and issued a $28.00 price objective (down previously from $31.00) on shares of Viridian Therapeutics in a report on Monday, August 12th. The Goldman Sachs Group boosted their price target on Viridian Therapeutics from $25.00 to $31.00 and gave the company a buy rating in a research note on Thursday, September 12th. Wolfe Research started coverage on Viridian Therapeutics in a research note on Tuesday, June 11th. They set an outperform rating and a $29.00 price objective on the stock. Needham & Company LLC upped their target price on Viridian Therapeutics from $30.00 to $38.00 and gave the company a buy rating in a research report on Wednesday, September 11th. Finally, HC Wainwright reissued a buy rating and set a $27.00 target price on shares of Viridian Therapeutics in a report on Tuesday, September 10th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Viridian Therapeutics has a consensus rating of Moderate Buy and a consensus price target of $35.30.

Viridian Therapeutics Trading Down 0.9 %

Shares of Viridian Therapeutics stock opened at $22.30 on Thursday. The stock has a market cap of $1.42 billion, a P/E ratio of -4.96 and a beta of 1.03. The company has a quick ratio of 15.82, a current ratio of 15.82 and a debt-to-equity ratio of 0.05. Viridian Therapeutics has a 12-month low of $10.93 and a 12-month high of $24.18. The business’s 50 day moving average is $16.29 and its 200-day moving average is $15.13.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.15). The business had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.09 million. Viridian Therapeutics had a negative return on equity of 83.18% and a negative net margin of 79,185.77%. Equities research analysts predict that Viridian Therapeutics will post -3.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Fairmount Funds Management Llc bought 1,600,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were purchased at an average price of $18.75 per share, for a total transaction of $30,000,000.00. Following the completion of the transaction, the director now directly owns 3,445,813 shares in the company, valued at approximately $64,608,993.75. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.65% of the stock is currently owned by insiders.

Institutional Trading of Viridian Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Quest Partners LLC grew its stake in Viridian Therapeutics by 344.0% in the 2nd quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock worth $79,000 after buying an additional 4,692 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in Viridian Therapeutics by 19.2% in the first quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock valued at $87,000 after acquiring an additional 799 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Viridian Therapeutics by 24.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock valued at $156,000 after acquiring an additional 2,359 shares during the last quarter. AlphaCentric Advisors LLC raised its position in Viridian Therapeutics by 108.3% during the second quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock valued at $163,000 after purchasing an additional 6,500 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in Viridian Therapeutics by 14.7% during the second quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock worth $171,000 after purchasing an additional 1,688 shares during the last quarter.

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.