Viridian Therapeutics, Inc. (NASDAQ:VRDN) Receives Average Recommendation of “Moderate Buy” from Analysts

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

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

Viridian Therapeutics Stock Performance

Shares of VRDN opened at $16.27 on Friday. The company has a quick ratio of 18.55, a current ratio of 18.55 and a debt-to-equity ratio of 0.04. The business has a 50-day simple moving average of $18.63 and a two-hundred day simple moving average of $19.65. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -3.77 and a beta of 1.32. Viridian Therapeutics has a 52 week low of $11.40 and a 52 week high of $27.20.

Hedge Funds Weigh In On Viridian Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Viridian Therapeutics by 6.2% during the fourth quarter. FMR LLC now owns 11,881,912 shares of the company’s stock valued at $227,776,000 after buying an additional 698,434 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Viridian Therapeutics by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 4,595,049 shares of the company’s stock valued at $88,087,000 after purchasing an additional 174,952 shares during the last quarter. Deep Track Capital LP lifted its stake in shares of Viridian Therapeutics by 20.6% in the 4th quarter. Deep Track Capital LP now owns 4,522,741 shares of the company’s stock valued at $86,701,000 after purchasing an additional 771,796 shares during the last quarter. Tang Capital Management LLC lifted its stake in shares of Viridian Therapeutics by 11.1% in the 4th quarter. Tang Capital Management LLC now owns 2,492,925 shares of the company’s stock valued at $47,789,000 after purchasing an additional 250,000 shares during the last quarter. Finally, Novo Holdings A S lifted its stake 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 valued at $54,259,000 after purchasing an additional 385,000 shares during 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.