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

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have been given a consensus rating of “Moderate Buy” by the fourteen research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $36.1429.

A number of equities analysts recently commented on VRDN shares. The Goldman Sachs Group reduced their price target on Viridian Therapeutics from $36.00 to $31.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Stifel Nicolaus set a $39.00 price target on Viridian Therapeutics in a report on Wednesday, May 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viridian Therapeutics in a report on Monday, April 20th. Wedbush reduced their price target on Viridian Therapeutics from $37.00 to $31.00 and set an “outperform” rating for the company in a report on Wednesday, April 8th. Finally, Royal Bank Of Canada lifted their price target on Viridian Therapeutics from $30.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th.

Insider Activity

In other news, Director Fairmount Funds Management Llc acquired 1,176,470 shares of Viridian Therapeutics stock in a transaction dated Monday, May 11th. The stock was bought at an average price of $17.00 per share, for a total transaction of $19,999,990.00. Following the completion of the acquisition, the director directly owned 5,090,928 shares in the company, valued at approximately $86,545,776. The trade was a 30.05% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Viridian Therapeutics

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Viridian Therapeutics by 29.6% during the fourth quarter. Vanguard Group Inc. now owns 5,612,144 shares of the company’s stock worth $174,650,000 after acquiring an additional 1,280,161 shares during the period. Commodore Capital LP boosted its holdings in shares of Viridian Therapeutics by 35.4% during the second quarter. Commodore Capital LP now owns 4,875,000 shares of the company’s stock worth $68,152,000 after acquiring an additional 1,275,000 shares during the period. State Street Corp boosted its holdings in shares of Viridian Therapeutics by 35.7% during the fourth quarter. State Street Corp now owns 3,466,560 shares of the company’s stock worth $107,879,000 after acquiring an additional 912,394 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Viridian Therapeutics by 42.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,439,414 shares of the company’s stock worth $107,036,000 after acquiring an additional 1,021,310 shares during the period. Finally, Perceptive Advisors LLC boosted its holdings in shares of Viridian Therapeutics by 108.1% during the fourth quarter. Perceptive Advisors LLC now owns 3,042,703 shares of the company’s stock worth $94,689,000 after acquiring an additional 1,580,303 shares during the period.

Viridian Therapeutics Stock Performance

Viridian Therapeutics stock opened at $17.90 on Monday. Viridian Therapeutics has a 52 week low of $13.18 and a 52 week high of $34.29. The company has a debt-to-equity ratio of 0.10, a quick ratio of 15.15 and a current ratio of 15.15. The stock has a market capitalization of $1.84 billion, a P/E ratio of -5.39 and a beta of 0.90. The stock has a 50-day simple moving average of $16.25 and a 200 day simple moving average of $24.21.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.90) EPS for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.16. Viridian Therapeutics had a negative return on equity of 80.19% and a negative net margin of 490.31%.The business had revenue of $0.14 million during the quarter, compared to analysts’ expectations of $0.04 million. During the same quarter last year, the company posted ($0.87) earnings per share. Viridian Therapeutics’s quarterly revenue was up 95.8% on a year-over-year basis. Analysts expect that Viridian Therapeutics will post -3.87 earnings per share for the current year.

About Viridian Therapeutics

Viridian Therapeutics, Inc (NASDAQ: VRDN) is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted antibody therapeutics for patients suffering from rare and serious diseases. The company’s lead program, VRDN-001, is a fully human monoclonal antibody that antagonizes the insulin-like growth factor-1 receptor (IGF-1R), with an initial focus on thyroid eye disease (TED). By selectively inhibiting IGF-1R signaling, VRDN-001 aims to reduce inflammation and tissue remodeling associated with TED and related disorders.

In addition to VRDN-001, Viridian is advancing a second antibody program, VRDN-002, which targets complement-mediated pathways implicated in autoimmune and inflammatory diseases.