Viridian Therapeutics (NASDAQ:VRDN) Given New $47.00 Price Target at Royal Bank of Canada

Viridian Therapeutics (NASDAQ:VRDN) had its target price raised by Royal Bank of Canada from $44.00 to $47.00 in a research report report published on Tuesday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other equities research analysts have also issued reports on the stock. TD Cowen started coverage on shares of Viridian Therapeutics in a research note on Monday, November 25th. They issued 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. BTIG Research increased their price target on Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 price target on shares of Viridian Therapeutics in a research report on Monday, November 25th. Finally, The Goldman Sachs Group upped their price objective on Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.67.

Viridian Therapeutics Trading Down 3.3 %

Shares of NASDAQ:VRDN opened at $20.82 on Tuesday. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -4.83 and a beta of 1.04. Viridian Therapeutics has a 12 month low of $11.40 and a 12 month high of $27.20. The company’s fifty day simple moving average is $21.95 and its 200 day simple moving average is $18.05. 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 (NASDAQ:VRDN) last released its quarterly 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). The firm had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.08 million. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. As a group, research analysts forecast that Viridian Therapeutics will post -4.03 EPS for the current fiscal year.

Insider Transactions at Viridian Therapeutics

In related news, COO Thomas W. Beetham purchased 5,000 shares of the stock in a transaction on Friday, September 27th. The shares were purchased at an average cost of $23.41 per share, with a total value of $117,050.00. Following the acquisition, the chief operating officer now directly owns 6,000 shares in the company, valued at $140,460. The trade was a 500.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Stephen F. Mahoney acquired 21,400 shares of the business’s stock in a transaction on 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 directly owns 21,400 shares of the company’s stock, valued at approximately $499,262. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.65% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Viridian Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in VRDN. FMR LLC boosted its stake in Viridian Therapeutics by 16.8% in the 3rd quarter. FMR LLC now owns 11,183,478 shares of the company’s stock valued at $254,424,000 after purchasing an additional 1,610,130 shares during the period. Maverick Capital Ltd. lifted its holdings in shares of Viridian Therapeutics by 22.9% during the second quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock worth $43,036,000 after buying an additional 615,531 shares in the last quarter. Novo Holdings A S lifted its holdings in shares of Viridian Therapeutics by 19.3% during the third quarter. Novo Holdings A S now owns 2,385,000 shares of the company’s stock worth $54,259,000 after buying an additional 385,000 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Viridian Therapeutics by 5.8% in the third quarter. Geode Capital Management LLC now owns 1,493,311 shares of the company’s stock valued at $33,979,000 after acquiring an additional 81,951 shares during the period. Finally, Great Point Partners LLC grew its stake in shares of Viridian Therapeutics by 50.0% in the third quarter. Great Point Partners LLC now owns 750,000 shares of the company’s stock valued at $17,062,000 after acquiring an additional 250,000 shares in the last quarter.

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.