Viridian Therapeutics, Inc. (NASDAQ:VRDN) Receives $36.33 Average Target Price from Analysts

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $36.33.

A number of analysts have recently commented on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $44.00 price objective on shares of Viridian Therapeutics in a research report on Thursday, September 19th. BTIG Research boosted their price target on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. The Goldman Sachs Group increased their price objective on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 target price on shares of Viridian Therapeutics in a research report on Wednesday, November 13th. Finally, Oppenheimer reiterated an “outperform” rating and set a $28.00 target price (down previously from $31.00) on shares of Viridian Therapeutics in a report on Monday, August 12th.

Insider Buying and Selling at Viridian Therapeutics

In other news, CEO Stephen F. Mahoney bought 21,400 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were bought at an average price of $23.33 per share, with a total value of $499,262.00. Following the completion of the transaction, the chief executive officer now owns 21,400 shares of the company’s stock, valued at $499,262. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Fairmount Funds Management Llc purchased 1,600,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were purchased at an average cost of $18.75 per share, with a total value of $30,000,000.00. Following the completion of the acquisition, the director now owns 3,445,813 shares in the company, valued at $64,608,993.75. The trade was a 86.68 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 1,626,400 shares of company stock worth $30,616,312 over the last 90 days. Company insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. increased 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. Quest Partners LLC increased its stake in Viridian Therapeutics by 344.0% during the 2nd quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock worth $79,000 after acquiring an additional 4,692 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Viridian Therapeutics in the 3rd quarter valued at $149,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Viridian Therapeutics during the 3rd quarter valued at $208,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Viridian Therapeutics by 24.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock worth $156,000 after purchasing an additional 2,359 shares in the last quarter.

Viridian Therapeutics Stock Down 6.9 %

Shares of VRDN stock opened at $20.14 on Friday. The company 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 12-month low of $11.40 and a 12-month high of $27.20. The firm has a fifty day moving average of $22.64 and a 200-day moving average of $17.02. The company has a quick ratio of 15.82, a current ratio of 18.55 and a debt-to-equity ratio of 0.04.

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 the consensus estimate of ($1.11) by ($0.04). 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 $0.09 million for the quarter, compared to analyst estimates of $0.08 million. As a group, equities research analysts predict that Viridian Therapeutics will post -4.01 earnings per share 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.