Analysts Set Viridian Therapeutics, Inc. (NASDAQ:VRDN) PT at $35.70

Viridian Therapeutics, Inc. (NASDAQ:VRDN) has been given an average recommendation of “Moderate Buy” by the twelve research firms that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $35.70.

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

Viridian Therapeutics Price Performance

Shares of NASDAQ VRDN opened at $15.26 on Thursday. Viridian Therapeutics has a 1 year low of $11.40 and a 1 year high of $27.20. The company’s 50-day moving average is $17.02 and its 200 day moving average is $19.72. The company has a debt-to-equity ratio of 0.04, a current ratio of 18.55 and a quick ratio of 18.55. The stock has a market capitalization of $1.24 billion, a P/E ratio of -3.54 and a beta of 1.05.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.24. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. The firm had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.05 million. On average, sell-side analysts expect that Viridian Therapeutics will post -4.03 earnings per share for the current year.

Institutional Investors Weigh In On Viridian Therapeutics

Several large investors have recently bought and sold shares of the business. Great Point Partners LLC boosted its holdings in shares of Viridian Therapeutics by 50.0% during the 3rd 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 during the last quarter. Lord Abbett & CO. LLC purchased a new stake in Viridian Therapeutics in the third quarter worth approximately $8,917,000. JPMorgan Chase & Co. grew its position in Viridian Therapeutics by 218.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 400,351 shares of the company’s stock worth $9,108,000 after purchasing an additional 274,641 shares during the period. Barclays PLC raised its stake in Viridian Therapeutics by 113.1% during the 3rd quarter. Barclays PLC now owns 125,397 shares of the company’s stock valued at $2,851,000 after buying an additional 66,550 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Viridian Therapeutics during the 3rd quarter valued at $788,000.

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.