Viridian Therapeutics (NASDAQ:VRDN) Price Target Increased to $61.00 by Analysts at BTIG Research

Viridian Therapeutics (NASDAQ:VRDN) had its price objective hoisted by BTIG Research from $56.00 to $61.00 in a research note released on Thursday morning, Benzinga reports. BTIG Research currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on VRDN. Wedbush reissued an outperform rating and set a $42.00 price target on shares of Viridian Therapeutics in a research report on Monday, July 29th. Needham & Company LLC boosted their price target on Viridian Therapeutics from $30.00 to $38.00 and gave the company a buy rating in a research report on Wednesday, September 11th. Royal Bank of Canada restated an outperform rating and set a $44.00 price objective on shares of Viridian Therapeutics in a research note on Thursday, September 19th. The Goldman Sachs Group boosted their price objective on Viridian Therapeutics from $25.00 to $31.00 and gave the stock a buy rating in a research note on Thursday, September 12th. Finally, 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. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $35.80.

Viridian Therapeutics Stock Performance

Shares of VRDN stock opened at $23.33 on Thursday. The stock has a fifty day moving average price of $16.99 and a 200 day moving average price of $15.20. The stock has a market cap of $1.49 billion, a PE ratio of -5.18 and a beta of 1.03. Viridian Therapeutics has a 1 year low of $10.93 and a 1 year high of $24.18. The company has a debt-to-equity ratio of 0.05, a quick ratio of 15.82 and a current ratio of 15.82.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.15). The company had revenue of $0.07 million for the quarter, compared to analysts’ expectations of $0.09 million. Viridian Therapeutics had a negative return on equity of 83.18% and a negative net margin of 79,185.77%. Sell-side analysts forecast that Viridian Therapeutics will post -3.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc purchased 1,600,000 shares of the stock in a transaction dated Friday, September 13th. The shares were bought at an average cost of $18.75 per share, with a total value of $30,000,000.00. Following the completion of the transaction, the director now owns 3,445,813 shares in the company, valued at approximately $64,608,993.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Viridian Therapeutics

A number of institutional investors have recently added to or reduced their stakes in VRDN. Charles Schwab Investment Management Inc. boosted its holdings in Viridian Therapeutics by 18.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 371,311 shares of the company’s stock valued at $8,087,000 after purchasing an additional 58,094 shares in the last quarter. Affinity Asset Advisors LLC acquired a new stake in Viridian Therapeutics during the fourth quarter valued at approximately $1,089,000. RTW Investments LP acquired a new stake in Viridian Therapeutics during the fourth quarter valued at approximately $13,195,000. Vestal Point Capital LP acquired a new stake in Viridian Therapeutics during the fourth quarter valued at approximately $21,780,000. Finally, Perceptive Advisors LLC boosted its holdings in Viridian Therapeutics by 71.1% during the fourth quarter. Perceptive Advisors LLC now owns 1,730,212 shares of the company’s stock valued at $37,684,000 after purchasing an additional 719,007 shares in 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.