Brokerages Set Viridian Therapeutics, Inc. (NASDAQ:VRDN) Target Price at $35.70

Viridian Therapeutics, Inc. (NASDAQ:VRDN) has been assigned a consensus rating 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 rating and nine have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $35.70.

Several analysts recently commented on the stock. Needham & Company LLC restated a “buy” rating and set a $38.00 price target on shares of Viridian Therapeutics in a research report on Monday, November 25th. HC Wainwright restated a “buy” rating and set a $34.00 target price on shares of Viridian Therapeutics in a research report on Monday, December 16th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $27.00 price target (down previously from $37.00) on shares of Viridian Therapeutics in a report on Thursday, December 19th. Royal Bank of Canada increased their price target on Viridian Therapeutics from $44.00 to $47.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. Finally, TD Cowen assumed coverage on Viridian Therapeutics in a research report on Monday, November 25th. They issued a “buy” rating for the company.

Institutional Investors Weigh In On Viridian Therapeutics

A number of large investors have recently made changes to their positions in VRDN. FMR LLC lifted its position in 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 in the last quarter. Novo Holdings A S increased its stake in shares of Viridian Therapeutics by 81.8% in the 2nd quarter. Novo Holdings A S now owns 2,000,000 shares of the company’s stock worth $26,020,000 after acquiring an additional 900,000 shares during the last quarter. Maverick Capital Ltd. increased its stake in shares of Viridian Therapeutics by 22.9% in the 2nd quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock worth $43,036,000 after acquiring an additional 615,531 shares during the last quarter. Candriam S.C.A. boosted its position in shares of Viridian Therapeutics by 167.8% during the 2nd quarter. Candriam S.C.A. now owns 749,804 shares of the company’s stock valued at $9,754,000 after acquiring an additional 469,804 shares during the last quarter. Finally, Parkman Healthcare Partners LLC purchased a new stake in shares of Viridian Therapeutics in the third quarter valued at about $9,669,000.

Viridian Therapeutics Stock Down 0.6 %

Shares of VRDN opened at $20.07 on Friday. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of -4.66 and a beta of 1.13. Viridian Therapeutics has a 52 week low of $11.40 and a 52 week high of $27.20. The stock’s 50-day moving average price is $20.77 and its 200-day moving average price is $18.75. 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 data on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The company had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.08 million. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. On average, sell-side analysts predict that Viridian Therapeutics will post -4.03 EPS for the current year.

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.