Viridian Therapeutics, Inc. (NASDAQ:VRDN) Receives $31.20 Consensus Target Price from Brokerages

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have been given a consensus recommendation of “Moderate Buy” by the eleven brokerages that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $31.20.

A number of brokerages have recently commented on VRDN. Wolfe Research assumed coverage on shares of Viridian Therapeutics in a report on Tuesday, June 11th. They issued an “outperform” rating and a $29.00 target price on the stock. Wedbush reaffirmed an “outperform” rating and issued a $42.00 target price on shares of Viridian Therapeutics in a report on Monday, July 29th. The Goldman Sachs Group began coverage on Viridian Therapeutics in a report on Thursday, June 6th. They set a “buy” rating and a $23.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price objective on shares of Viridian Therapeutics in a research note on Friday, August 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price objective on shares of Viridian Therapeutics in a research report on Wednesday, August 28th.

Institutional Investors Weigh In On Viridian Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quest Partners LLC grew its stake in shares of Viridian Therapeutics by 344.0% during the 2nd quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock worth $79,000 after purchasing an additional 4,692 shares during the period. Ameritas Investment Partners Inc. lifted its position in shares of Viridian Therapeutics by 19.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock valued at $87,000 after acquiring an additional 799 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Viridian Therapeutics by 24.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock worth $156,000 after acquiring an additional 2,359 shares in the last quarter. AlphaCentric Advisors LLC boosted its stake in shares of Viridian Therapeutics by 108.3% during the 2nd quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock worth $163,000 after acquiring an additional 6,500 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Viridian Therapeutics by 14.7% in the 2nd quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock worth $171,000 after acquiring an additional 1,688 shares during the period.

Viridian Therapeutics Stock Performance

NASDAQ VRDN opened at $14.47 on Friday. The company has a fifty day moving average of $14.64 and a two-hundred day moving average of $15.08. The company has a market capitalization of $924.49 million, a PE ratio of -3.22 and a beta of 1.03. Viridian Therapeutics has a 1 year low of $10.93 and a 1 year high of $24.18. The company has a debt-to-equity ratio of 0.05, a current ratio of 15.82 and a quick ratio of 15.82.

Viridian Therapeutics (NASDAQ:VRDN) last announced its earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.15). The firm had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.09 million. Viridian Therapeutics had a negative net margin of 79,185.77% and a negative return on equity of 83.18%. As a group, analysts expect that Viridian Therapeutics will post -3.97 earnings per share for the current year.

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.