Viridian Therapeutics, Inc. (NASDAQ:VRDN) Receives Consensus Rating of “Buy” from Brokerages

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN – Get Rating) have been given a consensus recommendation of “Buy” by the fourteen brokerages that are presently covering the company, MarketBeat Ratings reports. Nine research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $45.08.

A number of equities research analysts have weighed in on the stock. LADENBURG THALM/SH SH reiterated a “buy” rating and set a $40.00 price target on shares of Viridian Therapeutics in a research report on Thursday, March 9th. Needham & Company LLC restated a “buy” rating and issued a $47.00 price objective on shares of Viridian Therapeutics in a report on Monday, April 10th. Stifel Nicolaus assumed coverage on shares of Viridian Therapeutics in a report on Wednesday, March 29th. They issued a “buy” rating and a $49.00 price objective for the company. Wells Fargo & Company began coverage on shares of Viridian Therapeutics in a report on Monday, April 17th. They issued an “overweight” rating and a $46.00 price objective for the company. Finally, JMP Securities lowered their price target on shares of Viridian Therapeutics from $46.00 to $44.00 in a report on Wednesday, May 10th.

Insider Buying and Selling at Viridian Therapeutics

In other news, CEO Scott Dunseth Myers acquired 5,500 shares of the company’s stock in a transaction on Monday, March 13th. The shares were bought at an average cost of $29.15 per share, with a total value of $160,325.00. Following the purchase, the chief executive officer now owns 255,500 shares of the company’s stock, valued at approximately $7,447,825. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Viridian Therapeutics news, CEO Scott Dunseth Myers bought 5,500 shares of the company’s stock in a transaction on Monday, March 13th. The stock was purchased at an average cost of $29.15 per share, for a total transaction of $160,325.00. Following the acquisition, the chief executive officer now owns 255,500 shares of the company’s stock, valued at approximately $7,447,825. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Lara Meisner sold 29,971 shares of the firm’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $29.07, for a total transaction of $871,256.97. The disclosure for this sale can be found here. 4.48% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Viridian Therapeutics

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of Viridian Therapeutics by 0.4% in the first quarter. BlackRock Inc. now owns 2,773,386 shares of the company’s stock worth $70,555,000 after buying an additional 11,830 shares during the last quarter. VR Adviser LLC increased its stake in Viridian Therapeutics by 26.7% during the fourth quarter. VR Adviser LLC now owns 2,699,865 shares of the company’s stock valued at $78,863,000 after purchasing an additional 569,557 shares during the last quarter. Commodore Capital LP increased its stake in Viridian Therapeutics by 64.6% during the third quarter. Commodore Capital LP now owns 2,696,340 shares of the company’s stock valued at $55,302,000 after purchasing an additional 1,057,731 shares during the last quarter. Vanguard Group Inc. increased its stake in Viridian Therapeutics by 31.6% during the third quarter. Vanguard Group Inc. now owns 1,856,800 shares of the company’s stock valued at $38,083,000 after purchasing an additional 445,898 shares during the last quarter. Finally, Vivo Capital LLC increased its stake in Viridian Therapeutics by 1.1% during the fourth quarter. Vivo Capital LLC now owns 1,678,207 shares of the company’s stock valued at $49,020,000 after purchasing an additional 18,188 shares during the last quarter.

Viridian Therapeutics Stock Performance

NASDAQ:VRDN opened at $23.43 on Monday. The company has a current ratio of 12.93, a quick ratio of 12.93 and a debt-to-equity ratio of 0.02. The company’s 50-day moving average price is $27.03 and its 200-day moving average price is $28.37. Viridian Therapeutics has a twelve month low of $9.84 and a twelve month high of $39.00. The company has a market cap of $1.01 billion, a P/E ratio of -5.03 and a beta of 0.95.

Viridian Therapeutics (NASDAQ:VRDN – Get Rating) last issued its earnings results on Tuesday, May 9th. The company reported ($1.61) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.61). Viridian Therapeutics had a negative return on equity of 84.78% and a negative net margin of 7,329.23%. The firm had revenue of $0.10 million for the quarter, compared to analysts’ expectations of $0.10 million. During the same period last year, the firm earned ($0.98) earnings per share. Viridian Therapeutics’s revenue for the quarter was down 54.6% on a year-over-year basis. On average, sell-side analysts forecast that Viridian Therapeutics will post -4.43 earnings per share for the current fiscal year.

Viridian Therapeutics Company Profile

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Viridian Therapeutics, Inc is a clinical stage biopharmaceutical company, which engages in the development of proprietary RNA-targeted therapeutics. Its product candidates include Cobomarsen, which treats patients with certain cancers, including cutaneous T-cell lymphoma and adult T-cell leukemia/lymphoma, and Remlarsen and MRG-229, which are made for the treatment of patients with pathological fibrosis.