Brokerages Set Viridian Therapeutics, Inc. (NASDAQ:VRDN) Price Target at $35.70

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have received a consensus recommendation of “Moderate Buy” from the twelve analysts that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $35.70.

A number of research analysts have recently issued reports on the company. TD Cowen initiated coverage on Viridian Therapeutics in a report on Monday, November 25th. They issued a “buy” rating on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 target price on shares of Viridian Therapeutics in a research note on Monday, November 25th. Wells Fargo & Company reissued an “equal weight” rating and set a $27.00 price target (down from $37.00) on shares of Viridian Therapeutics in a research report on Thursday, December 19th. The Goldman Sachs Group lifted their price objective on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Finally, HC Wainwright reiterated a “buy” rating and set a $34.00 price objective on shares of Viridian Therapeutics in a research note on Monday, December 16th.

Viridian Therapeutics Stock Down 0.6 %

NASDAQ:VRDN opened at $20.07 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 18.55 and a quick ratio of 18.55. The firm has a market cap of $1.59 billion, a PE ratio of -4.66 and a beta of 1.13. The company has a 50-day moving average of $20.77 and a 200 day moving average of $18.75. Viridian Therapeutics has a 1-year low of $11.40 and a 1-year high of $27.20.

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

Hedge Funds Weigh In On Viridian Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VRDN. FMR LLC increased its holdings in shares of Viridian Therapeutics by 16.8% in the third quarter. FMR LLC now owns 11,183,478 shares of the company’s stock valued at $254,424,000 after purchasing an additional 1,610,130 shares during the period. Novo Holdings A S increased its holdings in Viridian Therapeutics by 81.8% in the 2nd quarter. Novo Holdings A S now owns 2,000,000 shares of the company’s stock worth $26,020,000 after buying an additional 900,000 shares during the period. Maverick Capital Ltd. raised its position in Viridian Therapeutics by 22.9% during the 2nd quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock worth $43,036,000 after buying an additional 615,531 shares during the last quarter. Candriam S.C.A. lifted its stake in Viridian Therapeutics by 167.8% during the 2nd quarter. Candriam S.C.A. now owns 749,804 shares of the company’s stock valued at $9,754,000 after acquiring an additional 469,804 shares during the period. Finally, Parkman Healthcare Partners LLC acquired a new stake in Viridian Therapeutics during the 3rd quarter valued at approximately $9,669,000.

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.