Viridian Therapeutics (NASDAQ:VRDN) Price Target Raised to $34.00

Viridian Therapeutics (NASDAQ:VRDN) had its target price boosted by HC Wainwright from $27.00 to $34.00 in a research report released on Thursday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

VRDN has been the subject of a number of other research reports. Oppenheimer reaffirmed an “outperform” rating and set a $28.00 price target (down previously from $31.00) on shares of Viridian Therapeutics in a research report on Monday, August 12th. Wedbush reaffirmed an “outperform” rating and set a $42.00 price target on shares of Viridian Therapeutics in a research report on Monday, July 29th. The Goldman Sachs Group lifted their price target on Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 price target on shares of Viridian Therapeutics in a research report on Wednesday. Finally, BTIG Research lifted their price target on Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.33.

Viridian Therapeutics Stock Down 6.9 %

Viridian Therapeutics stock opened at $20.14 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 15.82 and a quick ratio of 15.82. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -4.67 and a beta of 1.10. Viridian Therapeutics has a 1-year low of $11.40 and a 1-year high of $27.20. The business has a fifty day moving average price of $22.64 and a 200-day moving average price of $16.99.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). Viridian Therapeutics had a negative return on equity of 81.36% and a negative net margin of 85,127.16%. The business had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.08 million. Equities research analysts forecast that Viridian Therapeutics will post -3.94 EPS for the current fiscal year.

Insider Buying and Selling at Viridian Therapeutics

In related news, Director Fairmount Funds Management Llc acquired 1,600,000 shares of Viridian Therapeutics stock in a transaction on Friday, September 13th. The stock was acquired at an average price of $18.75 per share, for a total transaction of $30,000,000.00. Following the purchase, the director now owns 3,445,813 shares of the company’s stock, valued at approximately $64,608,993.75. This represents a 86.68 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Stephen F. Mahoney purchased 21,400 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was acquired at an average price of $23.33 per share, with a total value of $499,262.00. Following the purchase, the chief executive officer now owns 21,400 shares in the company, valued at $499,262. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 1,626,400 shares of company stock worth $30,616,312. Insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Viridian Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of VRDN. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Viridian Therapeutics by 4.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,822 shares of the company’s stock valued at $505,000 after purchasing an additional 1,135 shares in the last quarter. Swiss National Bank increased its stake in shares of Viridian Therapeutics by 23.4% in the 1st quarter. Swiss National Bank now owns 82,900 shares of the company’s stock valued at $1,452,000 after purchasing an additional 15,700 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Viridian Therapeutics by 7.8% in the 1st quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company’s stock valued at $56,632,000 after purchasing an additional 233,331 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in shares of Viridian Therapeutics by 19.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock valued at $87,000 after purchasing an additional 799 shares in the last quarter. Finally, American International Group Inc. increased its stake in shares of Viridian Therapeutics by 15.4% in the 1st quarter. American International Group Inc. now owns 24,515 shares of the company’s stock valued at $429,000 after purchasing an additional 3,266 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.