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

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have been assigned an average recommendation of “Buy” from the fourteen research firms that are covering the firm, MarketBeat.com reports. Fourteen analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $42.57.

A number of equities research analysts have commented on VRDN shares. Wells Fargo & Company decreased their price objective on Viridian Therapeutics from $46.00 to $39.00 and set an “overweight” rating for the company in a research report on Wednesday, August 9th. Stifel Nicolaus reiterated a “buy” rating and set a $40.00 price target on shares of Viridian Therapeutics in a report on Wednesday. Needham & Company LLC decreased their price target on shares of Viridian Therapeutics from $47.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, August 10th. BTIG Research initiated coverage on Viridian Therapeutics in a report on Wednesday, June 14th. They set a “buy” rating and a $46.00 price objective on the stock. Finally, Wedbush reiterated an “outperform” rating and set a $46.00 target price on shares of Viridian Therapeutics in a research report on Wednesday.

Institutional Investors Weigh In On Viridian Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its stake in shares of Viridian Therapeutics by 43.2% during the first quarter. JPMorgan Chase & Co. now owns 18,666 shares of the company’s stock worth $345,000 after purchasing an additional 5,633 shares during the period. Citigroup Inc. boosted its position in Viridian Therapeutics by 89.1% during the first quarter. Citigroup Inc. now owns 28,140 shares of the company’s stock valued at $520,000 after purchasing an additional 13,256 shares during the last quarter. Bank of Montreal Can bought a new position in Viridian Therapeutics during the first quarter worth about $414,000. Vanguard Group Inc. raised its stake in Viridian Therapeutics by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 940,577 shares of the company’s stock valued at $17,391,000 after acquiring an additional 14,901 shares during the period. Finally, Affinity Asset Advisors LLC acquired a new stake in Viridian Therapeutics during the 1st quarter valued at $925,000.

Viridian Therapeutics Stock Performance

Shares of VRDN stock opened at $17.53 on Friday. Viridian Therapeutics has a 12-month low of $16.40 and a 12-month high of $39.00. The firm has a market capitalization of $765.54 million, a price-to-earnings ratio of -3.60 and a beta of 0.91. The business has a 50 day simple moving average of $19.33 and a 200 day simple moving average of $23.81. The company has a debt-to-equity ratio of 0.03, a current ratio of 12.09 and a quick ratio of 12.09.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings results on Tuesday, August 8th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.26) by ($0.01). Viridian Therapeutics had a negative net margin of 13,462.86% and a negative return on equity of 86.39%. The firm had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.25 million. During the same period in the previous year, the business posted ($1.06) earnings per share. The business’s revenue for the quarter was down 71.9% compared to the same quarter last year. On average, equities research analysts anticipate that Viridian Therapeutics will post -5.31 EPS for the current year.

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-002 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.