Royal Bank of Canada Boosts Viridian Therapeutics (NASDAQ:VRDN) Price Target to $47.00

Viridian Therapeutics (NASDAQ:VRDN) had its price target increased by analysts at Royal Bank of Canada from $44.00 to $47.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 148.28% from the company’s current price.

VRDN has been the topic of a number of other reports. Needham & Company LLC restated a “buy” rating and set a $38.00 price objective on shares of Viridian Therapeutics in a research note on Monday, November 25th. HC Wainwright reissued a “buy” rating and set a $34.00 target price on shares of Viridian Therapeutics in a research note on Monday. BTIG Research upped their price target on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. TD Cowen began coverage on shares of Viridian Therapeutics in a report on Monday, November 25th. They issued a “buy” rating for the company. Finally, The Goldman Sachs Group boosted their target price on Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Viridian Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $36.67.

Viridian Therapeutics Price Performance

Shares of NASDAQ:VRDN opened at $18.93 on Tuesday. The company has a current ratio of 18.55, a quick ratio of 18.55 and a debt-to-equity ratio of 0.04. The firm’s 50 day moving average is $21.87 and its two-hundred day moving average is $18.05. The firm has a market capitalization of $1.50 billion, a P/E ratio of -4.39 and a beta of 1.04. Viridian Therapeutics has a 52 week low of $11.40 and a 52 week high of $27.20.

Viridian Therapeutics (NASDAQ:VRDN) last posted its earnings results on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The business had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.08 million. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. Analysts anticipate that Viridian Therapeutics will post -4.03 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Stephen F. Mahoney bought 21,400 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was bought at an average cost of $23.33 per share, for a total transaction of $499,262.00. Following the completion of the acquisition, the chief executive officer now directly owns 21,400 shares in the company, valued at $499,262. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Thomas W. Beetham bought 5,000 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was purchased at an average cost of $23.41 per share, for a total transaction of $117,050.00. Following the completion of the transaction, the chief operating officer now owns 6,000 shares of the company’s stock, valued at $140,460. This represents a 500.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.65% of the stock is currently owned by company insiders.

Institutional Trading of Viridian Therapeutics

Several large investors have recently added to or reduced their stakes in VRDN. Quest Partners LLC raised its position in Viridian Therapeutics by 344.0% during the second quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock valued at $79,000 after buying an additional 4,692 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Viridian Therapeutics during the third quarter worth approximately $149,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Viridian Therapeutics by 24.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock worth $156,000 after purchasing an additional 2,359 shares during the period. AlphaCentric Advisors LLC grew its position in 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 purchasing an additional 6,500 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in 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 buying 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.