Viridian Therapeutics (NASDAQ:VRDN) PT Raised to $56.00 at BTIG Research

Viridian Therapeutics (NASDAQ:VRDN) had its price objective lifted by research analysts at BTIG Research from $46.00 to $56.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price target suggests a potential upside of 182.83% from the company’s current price.

VRDN has been the subject of several other reports. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price objective on shares of Viridian Therapeutics in a report on Wednesday, August 28th. Wolfe Research assumed coverage on Viridian Therapeutics in a report on Tuesday, June 11th. They issued an “outperform” rating and a $29.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $30.00 price objective on shares of Viridian Therapeutics in a research note on Friday, August 30th. The Goldman Sachs Group initiated coverage on shares of Viridian Therapeutics in a report on Thursday, June 6th. They issued a “buy” rating and a $23.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and set a $27.00 target price on shares of Viridian Therapeutics in a report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $34.18.

Viridian Therapeutics Trading Up 5.6 %

NASDAQ:VRDN opened at $19.80 on Tuesday. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -4.40 and a beta of 1.03. Viridian Therapeutics has a one year low of $10.93 and a one year high of $24.18. The company has a debt-to-equity ratio of 0.05, a quick ratio of 15.82 and a current ratio of 15.82. The business’s 50-day simple moving average is $15.03 and its 200 day simple moving average is $14.99.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.15). The business had revenue of $0.07 million for the quarter, compared to analysts’ expectations of $0.09 million. Viridian Therapeutics had a negative net margin of 79,185.77% and a negative return on equity of 83.18%. As a group, sell-side analysts predict that Viridian Therapeutics will post -3.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Viridian Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in VRDN. Maverick Capital Ltd. raised its stake in Viridian Therapeutics by 22.9% during the 2nd quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock valued at $43,036,000 after acquiring an additional 615,531 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Viridian Therapeutics by 7.8% in the first quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company’s stock worth $56,632,000 after purchasing an additional 233,331 shares during the period. Novo Holdings A S lifted its holdings in Viridian Therapeutics by 81.8% in the second quarter. Novo Holdings A S now owns 2,000,000 shares of the company’s stock worth $26,020,000 after purchasing an additional 900,000 shares during the period. Perceptive Advisors LLC grew its position in Viridian Therapeutics by 71.1% in the 4th quarter. Perceptive Advisors LLC now owns 1,730,212 shares of the company’s stock valued at $37,684,000 after buying an additional 719,007 shares in the last quarter. Finally, Vestal Point Capital LP acquired a new position in Viridian Therapeutics during the 4th quarter valued at about $21,780,000.

Viridian Therapeutics Company Profile

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.