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

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $35.70.

Several equities research analysts recently issued reports on the company. 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 report on Tuesday, December 17th. HC Wainwright restated a “buy” rating and set a $34.00 price target on shares of Viridian Therapeutics in a report on Monday, December 16th. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price objective on shares of Viridian Therapeutics in a research note on Tuesday, January 7th. TD Cowen assumed coverage on shares of Viridian Therapeutics in a research report on Monday, November 25th. They set a “buy” rating on the stock. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $27.00 price objective (down previously from $37.00) on shares of Viridian Therapeutics in a research report on Thursday, December 19th.

Viridian Therapeutics Stock Performance

NASDAQ VRDN opened at $19.21 on Wednesday. The company has a market cap of $1.52 billion, a P/E ratio of -4.46 and a beta of 1.13. The company has a fifty day simple moving average of $19.43 and a 200 day simple moving average of $19.39. 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 12-month low of $11.40 and a 12-month high of $27.20.

Viridian Therapeutics (NASDAQ:VRDN) last posted its earnings results on Tuesday, November 12th. The company reported ($1.15) EPS 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 business had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.08 million. Sell-side analysts predict that Viridian Therapeutics will post -4.03 earnings per share for the current fiscal year.

Institutional Trading of Viridian Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of VRDN. Great Point Partners LLC boosted its stake in Viridian Therapeutics by 50.0% in 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 stake in Viridian Therapeutics during the third quarter valued at $8,917,000. JPMorgan Chase & Co. grew its position in Viridian Therapeutics by 218.5% during the third quarter. JPMorgan Chase & Co. now owns 400,351 shares of the company’s stock worth $9,108,000 after buying an additional 274,641 shares in the last quarter. Novo Holdings A S increased its stake in 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 last quarter. Finally, Barclays PLC raised its holdings in shares of Viridian Therapeutics by 113.1% in the 3rd quarter. Barclays PLC now owns 125,397 shares of the company’s stock valued at $2,851,000 after acquiring an additional 66,550 shares in the last quarter.

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.