Viridian Therapeutics, Inc. (NASDAQ:VRDN) Receives $35.80 Consensus PT from Analysts

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have earned a consensus rating of “Moderate Buy” from the eleven research firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $35.80.

Several brokerages recently issued reports on VRDN. Oppenheimer restated an “outperform” rating and issued a $28.00 price objective (down from $31.00) on shares of Viridian Therapeutics in a report on Monday, August 12th. The Goldman Sachs Group upped their price objective on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Needham & Company LLC lifted their target price on shares of Viridian Therapeutics from $30.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Wedbush reissued an “outperform” rating and issued a $42.00 target price on shares of Viridian Therapeutics in a research report on Monday, July 29th. Finally, BTIG Research raised their price target on Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th.

Viridian Therapeutics Stock Performance

Viridian Therapeutics stock opened at $23.05 on Monday. The firm has a 50 day simple moving average of $20.07 and a 200-day simple moving average of $16.07. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -5.50 and a beta of 1.08. 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 has a 1-year low of $11.01 and a 1-year high of $25.39.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.15). Viridian Therapeutics had a negative return on equity of 83.18% and a negative net margin of 79,185.77%. The business had revenue of $0.07 million during the quarter, compared to analysts’ expectations of $0.09 million. On average, analysts expect that Viridian Therapeutics will post -3.94 EPS for the current year.

Insider Buying and Selling at Viridian Therapeutics

In other news, COO Thomas W. Beetham purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was bought at an average price of $23.41 per share, for a total transaction of $117,050.00. Following the completion of the purchase, the chief operating officer now directly owns 6,000 shares of the company’s stock, valued at $140,460. The trade was a 500.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Viridian Therapeutics news, COO Thomas W. Beetham purchased 5,000 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was bought 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 of the company’s stock, valued at approximately $140,460. This represents a 500.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Stephen F. Mahoney acquired 21,400 shares of the stock in a transaction dated Friday, September 27th. The shares were acquired at an average cost of $23.33 per share, with a total value of $499,262.00. Following the completion of the transaction, the chief executive officer now owns 21,400 shares in the company, valued at approximately $499,262. The disclosure for this purchase can be found here. Insiders have purchased 1,626,400 shares of company stock valued at $30,616,312 in the last quarter. Corporate insiders own 0.65% of the company’s stock.

Institutional Trading of Viridian Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. raised its stake in Viridian Therapeutics by 19.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock worth $87,000 after acquiring an additional 799 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Viridian Therapeutics by 9.7% during the first quarter. Principal Financial Group Inc. now owns 11,915 shares of the company’s stock worth $209,000 after purchasing an additional 1,058 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Viridian Therapeutics by 4.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,822 shares of the company’s stock valued at $505,000 after purchasing an additional 1,135 shares during the last quarter. Arizona State Retirement System boosted its position 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 purchasing an additional 1,688 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Viridian Therapeutics by 24.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock valued at $156,000 after purchasing an additional 2,359 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.