Analysts Set Viridian Therapeutics, Inc. (NASDAQ:VRDN) Price Target at $39.78

Viridian Therapeutics, Inc. (NASDAQ:VRDN) has been given a consensus rating of “Moderate Buy” by the eleven brokerages that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $39.7778.

A number of research analysts have recently issued reports on VRDN shares. BTIG Research reaffirmed a “buy” rating and set a $61.00 price target on shares of Viridian Therapeutics in a report on Tuesday, November 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viridian Therapeutics in a report on Wednesday, October 8th. Royal Bank Of Canada lifted their price target on shares of Viridian Therapeutics from $41.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Jefferies Financial Group assumed coverage on shares of Viridian Therapeutics in a report on Monday, August 25th. They set a “buy” rating and a $44.00 price objective for the company. Finally, Wall Street Zen raised shares of Viridian Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday.

Viridian Therapeutics Trading Up 2.8%

NASDAQ:VRDN opened at $28.43 on Friday. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of -7.42 and a beta of 0.72. The company has a quick ratio of 11.01, a current ratio of 11.01 and a debt-to-equity ratio of 0.04. The company’s 50 day moving average price is $21.68 and its 200-day moving average price is $17.77. Viridian Therapeutics has a 52 week low of $9.90 and a 52 week high of $28.86.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.82) by $0.48. Viridian Therapeutics had a negative return on equity of 78.95% and a negative net margin of 112,806.88%.The business had revenue of $0.07 million for the quarter, compared to analysts’ expectations of $16.21 million. Viridian Therapeutics’s revenue for the quarter was up 81993.0% compared to the same quarter last year. On average, equities research analysts forecast that Viridian Therapeutics will post -4.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Fairmount Funds Management Llc bought 454,545 shares of the stock in a transaction on Thursday, October 23rd. The shares were bought at an average price of $22.00 per share, with a total value of $9,999,990.00. Following the completion of the acquisition, the director owned 3,914,458 shares in the company, 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 SEC, which is accessible through this hyperlink. Corporate insiders own 1.58% of the company’s stock.

Hedge Funds Weigh In On Viridian Therapeutics

Several institutional investors have recently made changes to their positions in VRDN. Amalgamated Bank boosted its holdings in shares of Viridian Therapeutics by 49.7% in the first quarter. Amalgamated Bank now owns 2,531 shares of the company’s stock worth $34,000 after buying an additional 840 shares during the last quarter. Farther Finance Advisors LLC raised its position in Viridian Therapeutics by 332.1% in the third quarter. Farther Finance Advisors LLC now owns 1,940 shares of the company’s stock worth $42,000 after acquiring an additional 1,491 shares during the period. Bessemer Group Inc. boosted its stake in shares of Viridian Therapeutics by 947.7% during the 3rd quarter. Bessemer Group Inc. now owns 2,085 shares of the company’s stock worth $45,000 after acquiring an additional 1,886 shares during the last quarter. Clearstead Advisors LLC boosted its stake in shares of Viridian Therapeutics by 3,868.3% during the 3rd quarter. Clearstead Advisors LLC now owns 5,000 shares of the company’s stock worth $108,000 after acquiring an additional 4,874 shares during the last quarter. Finally, BIT Capital GmbH grew its position in shares of Viridian Therapeutics by 70.0% during the 3rd quarter. BIT Capital GmbH now owns 6,005 shares of the company’s stock valued at $130,000 after acquiring an additional 2,472 shares during the period.

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.