Viridian Therapeutics, Inc. (NASDAQ:VRDN) Receives $35.70 Average Target Price from Brokerages

Viridian Therapeutics, Inc. (NASDAQ:VRDN) has earned an average recommendation of “Moderate Buy” from the twelve research firms that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $35.70.

VRDN has been the topic of several research reports. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price target on shares of Viridian Therapeutics in a report on Tuesday, January 7th. Royal Bank of Canada raised their price target on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. TD Cowen initiated coverage on shares of Viridian Therapeutics in a research note on Monday, November 25th. They set a “buy” rating on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $34.00 target price on shares of Viridian Therapeutics in a research report on Monday, December 16th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $27.00 price target (down from $37.00) on shares of Viridian Therapeutics in a research note on Thursday, December 19th.

Viridian Therapeutics Stock Performance

Shares of Viridian Therapeutics stock opened at $19.38 on Wednesday. The company has a 50 day moving average price of $19.41 and a 200 day moving average price of $19.49. The firm has a market capitalization of $1.54 billion, a P/E ratio of -4.50 and a beta of 1.13. The company has a quick ratio of 18.55, a current ratio of 18.55 and a debt-to-equity ratio of 0.04. Viridian Therapeutics has a 52 week low of $11.40 and a 52 week high of $27.20.

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

Institutional Trading of Viridian Therapeutics

Several institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its position in shares of Viridian Therapeutics by 968.3% during the second quarter. Dimensional Fund Advisors LP now owns 107,580 shares of the company’s stock worth $1,400,000 after purchasing an additional 97,510 shares during the period. Squarepoint Ops LLC grew its holdings in shares of Viridian Therapeutics by 430.3% during the second quarter. Squarepoint Ops LLC now owns 142,936 shares of the company’s stock worth $1,860,000 after purchasing an additional 115,980 shares during the last quarter. Millennium Management LLC raised its holdings in Viridian Therapeutics by 1,014.7% during the 2nd quarter. Millennium Management LLC now owns 228,182 shares of the company’s stock worth $2,969,000 after purchasing an additional 207,711 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Viridian Therapeutics by 30.7% during the second quarter. The Manufacturers Life Insurance Company now owns 31,687 shares of the company’s stock valued at $412,000 after purchasing an additional 7,450 shares during the period. Finally, Algert Global LLC raised its stake in shares of Viridian Therapeutics by 46.7% in the second quarter. Algert Global LLC now owns 55,493 shares of the company’s stock worth $722,000 after purchasing an additional 17,673 shares during 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.