Royal Bank of Canada Raises Viridian Therapeutics (NASDAQ:VRDN) Price Target to $44.00

Viridian Therapeutics (NASDAQ:VRDN) had its price target boosted by Royal Bank of Canada from $35.00 to $44.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other analysts have also recently commented on the stock. BTIG Research lifted their price objective on shares of Viridian Therapeutics from $46.00 to $56.00 and gave the company a buy rating in a research note on Tuesday, September 10th. Oppenheimer restated 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. The Goldman Sachs Group increased their price target on Viridian Therapeutics from $25.00 to $31.00 and gave the stock a buy rating in a research report on Thursday. HC Wainwright reissued a buy rating and issued a $27.00 price objective on shares of Viridian Therapeutics in a report on Tuesday, September 10th. Finally, Wolfe Research initiated coverage on Viridian Therapeutics in a report on Tuesday, June 11th. They set an outperform rating and a $29.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $35.30.

Viridian Therapeutics Stock Performance

Shares of VRDN stock opened at $22.06 on Friday. The company has a current ratio of 15.82, a quick ratio of 15.82 and a debt-to-equity ratio of 0.05. The company has a market cap of $1.41 billion, a PE ratio of -4.90 and a beta of 1.03. Viridian Therapeutics has a 12-month low of $10.93 and a 12-month high of $24.18. The business’s fifty day simple moving average is $15.39 and its 200-day simple moving average is $14.98.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.15). Viridian Therapeutics had a negative net margin of 79,185.77% and a negative return on equity of 83.18%. The business had revenue of $0.07 million during the quarter, compared to analysts’ expectations of $0.09 million. Analysts expect that Viridian Therapeutics will post -3.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Viridian Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in VRDN. Quest Partners LLC lifted its holdings in Viridian Therapeutics by 344.0% in the 2nd quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock valued at $79,000 after purchasing an additional 4,692 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in Viridian Therapeutics by 19.2% in the first quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock valued at $87,000 after purchasing an additional 799 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Viridian Therapeutics by 24.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock valued at $156,000 after buying an additional 2,359 shares during the last quarter. AlphaCentric Advisors LLC increased its position in shares of Viridian Therapeutics by 108.3% during the second quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock valued at $163,000 after acquiring an additional 6,500 shares during the last quarter. Finally, Arizona State Retirement System raised its stake 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 valued at $171,000 after acquiring an additional 1,688 shares during the period.

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.