Viridian Therapeutics (NASDAQ:VRDN) Receives “Buy” Rating from BTIG Research

BTIG Research reaffirmed their buy rating on shares of Viridian Therapeutics (NASDAQ:VRDN) in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a $61.00 price target on the stock.

A number of other equities analysts have also weighed in on the company. Oppenheimer upped their target price on Viridian Therapeutics from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Royal Bank Of Canada lowered their target price on Viridian Therapeutics from $45.00 to $41.00 and set an “outperform” rating on the stock in a research report on Thursday, August 7th. The Goldman Sachs Group upped their target price on Viridian Therapeutics from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viridian Therapeutics in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group initiated coverage on Viridian Therapeutics in a report on Monday, August 25th. They set a “buy” rating and a $44.00 price target for the company. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.22.

Viridian Therapeutics Price Performance

Shares of NASDAQ:VRDN opened at $22.55 on Tuesday. The company has a quick ratio of 11.01, a current ratio of 11.01 and a debt-to-equity ratio of 0.04. Viridian Therapeutics has a twelve month low of $9.90 and a twelve month high of $27.20. The stock’s 50 day moving average is $20.82 and its 200-day moving average is $17.29. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of -5.89 and a beta of 0.49.

Viridian Therapeutics (NASDAQ:VRDN) last issued its earnings results on Wednesday, August 6th. The company reported ($1.00) earnings per share for the quarter, hitting analysts’ consensus estimates of ($1.00). Viridian Therapeutics had a negative return on equity of 78.95% and a negative net margin of 112,806.88%.The company had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.05 million. During the same period in the prior year, the firm earned ($0.81) earnings per share. Viridian Therapeutics’s revenue for the quarter was up 4.2% on a year-over-year basis. Sell-side analysts forecast that Viridian Therapeutics will post -4.03 EPS for the current fiscal year.

Insider Buying and Selling at Viridian Therapeutics

In other news, Director Fairmount Funds Management Llc purchased 454,545 shares of the business’s stock in a transaction dated Thursday, October 23rd. The stock was bought at an average price of $22.00 per share, for a total transaction of $9,999,990.00. Following the purchase, the director owned 3,914,458 shares of the company’s stock, valued at $86,118,076. The trade was a 13.14% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.58% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. grew its stake in shares of Viridian Therapeutics by 4.7% during the 3rd quarter. Principal Financial Group Inc. now owns 213,329 shares of the company’s stock worth $4,604,000 after acquiring an additional 9,493 shares during the period. AlphaQuest LLC grew its stake in shares of Viridian Therapeutics by 1,695.0% during the 3rd quarter. AlphaQuest LLC now owns 17,645 shares of the company’s stock worth $381,000 after acquiring an additional 16,662 shares during the period. Knights of Columbus Asset Advisors LLC grew its stake in shares of Viridian Therapeutics by 2.4% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 59,410 shares of the company’s stock worth $1,282,000 after acquiring an additional 1,386 shares during the period. Y Intercept Hong Kong Ltd grew its stake in shares of Viridian Therapeutics by 430.3% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 64,594 shares of the company’s stock worth $1,394,000 after acquiring an additional 52,414 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Viridian Therapeutics during the 3rd quarter worth $568,000.

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.