Viridian Therapeutics, Inc. (NASDAQ:VRDN) Receives $35.70 Average PT from Analysts

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have been given a consensus recommendation of “Moderate Buy” by the twelve research firms that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $35.70.

VRDN has been the subject of a number of recent research reports. Wells Fargo & Company reissued an “equal weight” rating and issued a $27.00 price objective (down from $37.00) on shares of Viridian Therapeutics in a research note on Thursday, December 19th. Needham & Company LLC reissued a “buy” rating and set a $38.00 price objective on shares of Viridian Therapeutics in a research note on Tuesday. The Goldman Sachs Group upped their price objective on Viridian Therapeutics from $25.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. TD Cowen started coverage on Viridian Therapeutics in a report on Monday, November 25th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada increased their price target on Viridian Therapeutics from $44.00 to $47.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th.

Viridian Therapeutics Price Performance

NASDAQ:VRDN opened at $19.15 on Friday. The business’s 50-day moving average is $20.67 and its 200 day moving average is $18.81. Viridian Therapeutics has a 12 month low of $11.40 and a 12 month high of $27.20. The company has a market capitalization of $1.52 billion, a P/E ratio of -4.44 and a beta of 1.13. The company has a current ratio of 18.55, a quick ratio of 18.55 and a debt-to-equity ratio of 0.04.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by ($0.04). Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. The firm had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $0.08 million. On average, equities research analysts forecast that Viridian Therapeutics will post -4.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Viridian Therapeutics

Large investors have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in shares of Viridian Therapeutics by 16.8% during the third quarter. FMR LLC now owns 11,183,478 shares of the company’s stock valued at $254,424,000 after acquiring an additional 1,610,130 shares in the last quarter. Maverick Capital Ltd. raised its position in Viridian Therapeutics by 22.9% during the 2nd quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock valued at $43,036,000 after purchasing an additional 615,531 shares in the last quarter. Novo Holdings A S raised its position in Viridian Therapeutics by 19.3% during the 3rd quarter. Novo Holdings A S now owns 2,385,000 shares of the company’s stock valued at $54,259,000 after purchasing an additional 385,000 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Viridian Therapeutics by 5.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,493,311 shares of the company’s stock worth $33,979,000 after buying an additional 81,951 shares during the period. Finally, Great Point Partners LLC grew its position in shares of Viridian Therapeutics by 50.0% during the 3rd quarter. Great Point Partners LLC now owns 750,000 shares of the company’s stock worth $17,062,000 after buying an additional 250,000 shares in the last quarter.

Viridian Therapeutics Company Profile

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.