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

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDNGet Free Report) have been assigned an average recommendation of “Buy” from the fourteen research firms that are covering the firm, 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.

View Our Latest Research Report on Viridian Therapeutics

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:VRDNGet Free Report) 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

(Get Free Report

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.

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