Viridian Therapeutics, Inc. (NASDAQ:VRDN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have earned an average rating of “Moderate Buy” from the twelve brokerages that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $35.70.

Several equities analysts recently weighed in on VRDN shares. Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 price objective on shares of Viridian Therapeutics in a research report on Monday, November 25th. Wells Fargo & Company restated an “equal weight” rating and set a $27.00 price target (down previously from $37.00) on shares of Viridian Therapeutics in a report on Thursday, December 19th. The Goldman Sachs Group upped their price objective on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. BTIG Research raised their target price on Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, HC Wainwright reiterated a “buy” rating and set a $34.00 price target on shares of Viridian Therapeutics in a research note on Monday, December 16th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Great Point Partners LLC increased its holdings 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 purchasing an additional 250,000 shares during the period. Lord Abbett & CO. LLC bought a new position in Viridian Therapeutics during the third quarter valued at about $8,917,000. Rhumbline Advisers increased its stake in Viridian Therapeutics by 34.5% during the second quarter. Rhumbline Advisers now owns 90,826 shares of the company’s stock valued at $1,182,000 after acquiring an additional 23,305 shares during the period. Candriam S.C.A. raised its holdings in Viridian Therapeutics by 167.8% in the 2nd quarter. Candriam S.C.A. now owns 749,804 shares of the company’s stock valued at $9,754,000 after acquiring an additional 469,804 shares in the last quarter. Finally, Novo Holdings A S lifted its position in shares of Viridian Therapeutics by 19.3% in the 3rd quarter. Novo Holdings A S now owns 2,385,000 shares of the company’s stock worth $54,259,000 after acquiring an additional 385,000 shares during the period.

Viridian Therapeutics Trading Up 2.2 %

NASDAQ VRDN opened at $20.19 on Friday. 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 has a 1-year low of $11.40 and a 1-year high of $27.20. The firm’s fifty day simple moving average is $20.83 and its 200-day simple moving average is $18.60. The company has a market capitalization of $1.60 billion, a PE ratio of -4.68 and a beta of 1.04.

Viridian Therapeutics (NASDAQ:VRDN) last issued its earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The firm had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.08 million. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. As a group, sell-side analysts anticipate that Viridian Therapeutics will post -4.03 earnings per share for the current fiscal year.

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.