Viridian Therapeutics, Inc. (NASDAQ:VRDN) Given Consensus Recommendation of “Buy” by Brokerages

Viridian Therapeutics, Inc. (NASDAQ:VRDN) has received an average rating of “Buy” from the ten research firms that are currently covering the company, MarketBeat.com reports. Ten equities research analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $36.60.

A number of brokerages recently issued reports on VRDN. Wedbush raised their price target on Viridian Therapeutics from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. Needham & Company LLC reissued a “buy” rating and issued a $30.00 target price on shares of Viridian Therapeutics in a research note on Wednesday, March 20th. HC Wainwright reaffirmed a “buy” rating and set a $37.00 price target on shares of Viridian Therapeutics in a research note on Thursday, February 29th. Finally, B. Riley reduced their price objective on shares of Viridian Therapeutics from $29.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, March 21st.

Viridian Therapeutics Stock Up 1.4 %

Shares of NASDAQ VRDN opened at $12.88 on Monday. The company has a current ratio of 18.26, a quick ratio of 18.26 and a debt-to-equity ratio of 0.09. Viridian Therapeutics has a 12-month low of $10.93 and a 12-month high of $28.99. The firm’s 50-day moving average price is $17.18 and its 200-day moving average price is $17.54. The stock has a market capitalization of $808.48 million, a price-to-earnings ratio of -2.42 and a beta of 1.07.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.37). The company had revenue of $0.07 million for the quarter, compared to analysts’ expectations of $0.15 million. Viridian Therapeutics had a negative net margin of 75,711.48% and a negative return on equity of 121.80%. The company’s revenue for the quarter was down 31.4% on a year-over-year basis. During the same quarter last year, the company earned ($1.13) earnings per share. On average, equities research analysts anticipate that Viridian Therapeutics will post -4.39 EPS for the current fiscal year.

Institutional Trading of Viridian Therapeutics

A number of large investors have recently modified their holdings of VRDN. Vestal Point Capital LP purchased a new position in Viridian Therapeutics during the 4th quarter worth $21,780,000. Perceptive Advisors LLC raised its holdings in shares of Viridian Therapeutics by 71.1% in the fourth quarter. Perceptive Advisors LLC now owns 1,730,212 shares of the company’s stock valued at $37,684,000 after acquiring an additional 719,007 shares in the last quarter. RTW Investments LP purchased a new stake in Viridian Therapeutics in the fourth quarter worth about $13,195,000. Braidwell LP grew its holdings in Viridian Therapeutics by 43.8% during the 3rd quarter. Braidwell LP now owns 1,735,182 shares of the company’s stock worth $26,618,000 after acquiring an additional 528,882 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Viridian Therapeutics by 170.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 313,217 shares of the company’s stock worth $4,805,000 after acquiring an additional 197,430 shares in the last quarter.

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.