Viridian Therapeutics, Inc. (NASDAQ:VRDN) Receives $36.33 Average Target Price from Brokerages

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $36.33.

A number of equities research analysts recently commented on VRDN shares. HC Wainwright increased their price objective on shares of Viridian Therapeutics from $27.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Wedbush reissued an “outperform” rating and set a $42.00 price objective on shares of Viridian Therapeutics in a research note on Monday, July 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $44.00 target price on shares of Viridian Therapeutics in a research note on Thursday, September 19th. Oppenheimer reissued an “outperform” rating and set a $28.00 price target (down previously from $31.00) on shares of Viridian Therapeutics in a research report on Monday, August 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 price objective on shares of Viridian Therapeutics in a research note on Wednesday, November 13th.

Viridian Therapeutics Trading Down 0.9 %

Shares of Viridian Therapeutics stock opened at $19.62 on Friday. The company has a 50-day moving average of $22.77 and a two-hundred day moving average of $17.13. The stock has a market cap of $1.55 billion, a PE ratio of -4.55 and a beta of 1.10. The company has a current ratio of 18.55, a quick ratio of 18.55 and a debt-to-equity ratio of 0.04. Viridian Therapeutics has a 12-month low of $11.40 and a 12-month high of $27.20.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The firm had revenue of $0.09 million for the quarter, compared to analyst estimates 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, research analysts anticipate that Viridian Therapeutics will post -4.04 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Stephen F. Mahoney bought 21,400 shares of Viridian Therapeutics stock in a transaction that occurred on Friday, September 27th. The shares were purchased at an average price of $23.33 per share, for a total transaction of $499,262.00. Following the completion of the acquisition, the chief executive officer now owns 21,400 shares of the company’s stock, valued at $499,262. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Fairmount Funds Management Llc purchased 1,600,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were purchased at an average price of $18.75 per share, with a total value of $30,000,000.00. Following the completion of the purchase, the director now directly owns 3,445,813 shares of the company’s stock, valued at $64,608,993.75. The trade was a 86.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 1,626,400 shares of company stock valued at $30,616,312. Insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Viridian Therapeutics

Several institutional investors have recently bought and sold shares of the business. Quest Partners LLC lifted its holdings 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 valued at $79,000 after acquiring an additional 4,692 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of Viridian Therapeutics by 19.2% during the first quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock worth $87,000 after purchasing an additional 799 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Viridian Therapeutics in the third quarter worth about $149,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of 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 in the last quarter. Finally, AlphaCentric Advisors LLC raised its holdings 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 valued at $163,000 after buying an additional 6,500 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.