Viridian Therapeutics (NASDAQ:VRDN) Price Target Increased to $61.00 by Analysts at BTIG Research

Viridian Therapeutics (NASDAQ:VRDN) had its price target upped by BTIG Research from $56.00 to $61.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price target indicates a potential upside of 162.70% from the stock’s previous close.

Other analysts also recently issued reports about the stock. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Viridian Therapeutics in a report on Tuesday, September 10th. Needham & Company LLC boosted their price target on shares of Viridian Therapeutics from $30.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. The Goldman Sachs Group lifted their price target on Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Oppenheimer reaffirmed an “outperform” rating and set a $28.00 price objective (down previously from $31.00) on shares of Viridian Therapeutics in a research note on Monday, August 12th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $42.00 target price on shares of Viridian Therapeutics in a research note on Monday, July 29th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $35.80.

Viridian Therapeutics Stock Up 8.5 %

VRDN stock traded up $1.82 during trading on Thursday, reaching $23.22. 498,859 shares of the company traded hands, compared to its average volume of 1,138,099. The business has a 50 day simple moving average of $16.64 and a 200 day simple moving average of $15.15. The company has a debt-to-equity ratio of 0.05, a quick ratio of 15.82 and a current ratio of 15.82. Viridian Therapeutics has a 12 month low of $10.93 and a 12 month high of $24.18. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of -5.17 and a beta of 1.03.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings results 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). The business had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.09 million. Viridian Therapeutics had a negative return on equity of 83.18% and a negative net margin of 79,185.77%. On average, equities research analysts anticipate that Viridian Therapeutics will post -3.94 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Fairmount Funds Management Llc purchased 1,600,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was bought at an average price of $18.75 per share, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.65% of the company’s stock.

Institutional Trading of Viridian Therapeutics

Several institutional investors have recently modified their holdings of VRDN. Vestal Point Capital LP acquired a new position in Viridian Therapeutics in the fourth quarter valued at $21,780,000. Novo Holdings A S increased its holdings in shares of Viridian Therapeutics by 81.8% in the second quarter. Novo Holdings A S now owns 2,000,000 shares of the company’s stock valued at $26,020,000 after purchasing an additional 900,000 shares during the period. Perceptive Advisors LLC increased its position in Viridian Therapeutics by 71.1% during the 4th quarter. Perceptive Advisors LLC now owns 1,730,212 shares of the company’s stock worth $37,684,000 after purchasing an additional 719,007 shares during the period. Maverick Capital Ltd. raised its position in Viridian Therapeutics by 22.9% in the second quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock worth $43,036,000 after acquiring an additional 615,531 shares in the last quarter. Finally, RTW Investments LP acquired a new stake in shares of Viridian Therapeutics in the fourth quarter valued at about $13,195,000.

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.