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

Viridian Therapeutics, Inc. (NASDAQ:VRDN) has received an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $35.70.

VRDN has been the topic of several research reports. Wells Fargo & Company restated an “equal weight” rating and issued a $27.00 target price (down previously from $37.00) on shares of Viridian Therapeutics in a research note on Thursday, December 19th. Royal Bank of Canada lifted their price objective on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. HC Wainwright restated a “buy” rating and set a $34.00 target price on shares of Viridian Therapeutics in a report on Monday, December 16th. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price target on shares of Viridian Therapeutics in a research note on Tuesday, January 7th. Finally, TD Cowen initiated coverage on shares of Viridian Therapeutics in a research report on Monday, November 25th. They set a “buy” rating on the stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of VRDN. R Squared Ltd acquired a new stake in Viridian Therapeutics in the 4th quarter valued at about $26,000. Foresite Capital Management VI LLC acquired a new stake in shares of Viridian Therapeutics in the fourth quarter valued at approximately $38,000. AlphaQuest LLC lifted its position in shares of Viridian Therapeutics by 119.0% in the fourth quarter. AlphaQuest LLC now owns 2,795 shares of the company’s stock valued at $54,000 after buying an additional 1,519 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Viridian Therapeutics during the 3rd quarter worth approximately $149,000. Finally, Summit Investment Advisors Inc. increased its holdings in shares of Viridian Therapeutics by 24.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,646 shares of the company’s stock worth $147,000 after acquiring an additional 1,516 shares during the last quarter.

Viridian Therapeutics Stock Performance

Shares of VRDN opened at $15.46 on Thursday. The firm’s 50 day moving average price is $16.98 and its two-hundred day moving average price is $19.77. The company has a debt-to-equity ratio of 0.04, a quick ratio of 18.55 and a current ratio of 18.55. Viridian Therapeutics has a twelve month low of $11.40 and a twelve month high of $27.20. The firm has a market cap of $1.26 billion, a P/E ratio of -3.59 and a beta of 1.05.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.24. 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 $0.07 million during the quarter, compared to analysts’ expectations of $0.05 million. On average, analysts forecast that Viridian Therapeutics will post -4.03 EPS for the current fiscal year.

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.