Viridian Therapeutics’ (VRDN) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Viridian Therapeutics (NASDAQ:VRDN) in a research report sent to investors on Thursday morning, Benzinga reports. Royal Bank of Canada currently has a $44.00 price target on the stock.

VRDN has been the topic of a number of other reports. BTIG Research lifted their price objective on shares of Viridian Therapeutics from $46.00 to $56.00 and gave the company a buy rating in a research note on Tuesday, September 10th. Needham & Company LLC lifted their price objective on shares of Viridian Therapeutics from $30.00 to $38.00 and gave the company a buy rating in a research note on Wednesday, September 11th. Wedbush reissued an outperform rating and issued a $42.00 price objective on shares of Viridian Therapeutics in a research note on Monday, July 29th. HC Wainwright reissued a buy rating and issued a $27.00 price objective on shares of Viridian Therapeutics in a research note on Tuesday, September 10th. Finally, The Goldman Sachs Group lifted their price objective on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the company a buy rating in a research note on Thursday, September 12th. Two analysts have rated the stock with a hold rating and nine have issued 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 $35.30.

Viridian Therapeutics Stock Up 6.8 %

Shares of VRDN opened at $22.50 on Thursday. Viridian Therapeutics has a 12 month low of $10.93 and a 12 month high of $24.18. The firm’s 50 day moving average is $15.93 and its 200-day moving average is $15.05. The stock has a market capitalization of $1.44 billion, a PE ratio of -5.00 and a beta of 1.03. The company has a current ratio of 15.82, a quick ratio of 15.82 and a debt-to-equity ratio of 0.05.

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

Insiders Place Their Bets

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

Hedge Funds Weigh In On Viridian Therapeutics

A number of hedge funds have recently modified their holdings of the business. Ameritas Investment Partners Inc. lifted its holdings in shares of Viridian Therapeutics by 19.2% during the first quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock worth $87,000 after purchasing an additional 799 shares during the period. Swiss National Bank lifted its holdings in shares of Viridian Therapeutics by 1.2% during the fourth quarter. Swiss National Bank now owns 67,200 shares of the company’s stock worth $1,464,000 after purchasing an additional 800 shares during the period. Principal Financial Group Inc. lifted its holdings in Viridian Therapeutics by 9.7% in the first quarter. Principal Financial Group Inc. now owns 11,915 shares of the company’s stock valued at $209,000 after buying an additional 1,058 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Viridian Therapeutics by 4.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,822 shares of the company’s stock valued at $505,000 after buying an additional 1,135 shares during the period. Finally, Arizona State Retirement System lifted its holdings in Viridian Therapeutics by 14.7% in the second quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock valued at $171,000 after buying an additional 1,688 shares during the period.

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.