Viridian Therapeutics (NASDAQ:VRDN) Earns Buy Rating from Analysts at TD Cowen

TD Cowen assumed coverage on shares of Viridian Therapeutics (NASDAQ:VRDN) in a research report sent to investors on Monday morning, Marketbeat reports. The firm issued a buy rating on the stock.

A number of other equities research analysts have also issued reports on VRDN. Royal Bank of Canada reissued an “outperform” rating and set a $44.00 price target on shares of Viridian Therapeutics in a research note on Thursday, September 19th. HC Wainwright boosted their target price on shares of Viridian Therapeutics from $27.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 price target on shares of Viridian Therapeutics in a research note on Wednesday, November 13th. Wedbush reiterated an “outperform” rating and issued a $42.00 price target on shares of Viridian Therapeutics in a report on Monday, July 29th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $28.00 target price (down from $31.00) on shares of Viridian Therapeutics in a research report on Monday, August 12th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.33.

Viridian Therapeutics Stock Down 0.2 %

Shares of VRDN opened at $21.87 on Monday. 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 fifty day moving average of $22.73 and a 200 day moving average of $17.30. The company has a market cap of $1.73 billion, a PE ratio of -5.07 and a beta of 1.10. Viridian Therapeutics has a 52-week low of $11.40 and a 52-week high of $27.20.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share (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 firm had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.08 million. On average, sell-side analysts expect that Viridian Therapeutics will post -4.04 EPS for the current year.

Insider Activity

In other Viridian Therapeutics news, COO Thomas W. Beetham bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were purchased at an average cost of $23.41 per share, for a total transaction of $117,050.00. Following the purchase, the chief operating officer now directly owns 6,000 shares in the company, valued at $140,460. This represents a 500.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Fairmount Funds Management Llc purchased 1,600,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was acquired at an average price of $18.75 per share, with a total value of $30,000,000.00. Following the completion of the purchase, the director now owns 3,445,813 shares of the company’s stock, 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. In the last ninety days, insiders have bought 1,626,400 shares of company stock worth $30,616,312. Corporate insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of VRDN. FMR LLC lifted its stake in shares of Viridian Therapeutics by 16.8% during the third quarter. FMR LLC now owns 11,183,478 shares of the company’s stock worth $254,424,000 after buying an additional 1,610,130 shares during the period. Maverick Capital Ltd. grew its stake in Viridian Therapeutics by 22.9% during the 2nd quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock valued at $43,036,000 after purchasing an additional 615,531 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Viridian Therapeutics by 7.8% during the first quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company’s stock worth $56,632,000 after purchasing an additional 233,331 shares during the period. Novo Holdings A S boosted its position in Viridian Therapeutics by 19.3% in the third quarter. Novo Holdings A S now owns 2,385,000 shares of the company’s stock valued at $54,259,000 after buying an additional 385,000 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Viridian Therapeutics by 5.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,493,311 shares of the company’s stock worth $33,979,000 after buying an additional 81,951 shares during the period.

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.