Viridian Therapeutics, Inc. (NASDAQ:VRDN) Receives $42.21 Average PT from Brokerages

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $42.2143.

A number of research analysts have recently commented on the stock. William Blair assumed coverage on shares of Viridian Therapeutics in a report on Wednesday, December 3rd. They issued an “outperform” rating on the stock. Wells Fargo & Company lifted their price objective on shares of Viridian Therapeutics from $26.00 to $29.00 and gave the company an “equal weight” rating in a report on Tuesday, February 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Viridian Therapeutics in a research report on Wednesday, January 21st. Needham & Company LLC restated a “buy” rating and issued a $42.00 target price on shares of Viridian Therapeutics in a research note on Wednesday, February 4th. Finally, Evercore reaffirmed an “outperform” rating and set a $44.00 target price on shares of Viridian Therapeutics in a research report on Tuesday, January 20th.

Insider Transactions at Viridian Therapeutics

In related news, insider Jennifer Tousignant sold 2,272 shares of the stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $31.16, for a total value of $70,795.52. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Viridian Therapeutics

Hedge funds have recently made changes to their positions in the company. Avoro Capital Advisors LLC bought a new position in shares of Viridian Therapeutics during the 4th quarter worth $46,680,000. Seven Fleet Capital Management LP bought a new stake in shares of Viridian Therapeutics in the fourth quarter valued at about $456,000. Virtu Financial LLC purchased a new stake in Viridian Therapeutics in the fourth quarter worth about $531,000. Invesco Ltd. grew its holdings in Viridian Therapeutics by 127.1% during the 4th quarter. Invesco Ltd. now owns 183,468 shares of the company’s stock worth $5,710,000 after acquiring an additional 102,676 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in Viridian Therapeutics during the 4th quarter worth about $1,464,000.

Viridian Therapeutics Price Performance

Shares of VRDN stock opened at $28.77 on Friday. The stock has a 50 day moving average price of $30.48 and a 200 day moving average price of $27.35. Viridian Therapeutics has a 52-week low of $9.90 and a 52-week high of $34.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 12.65 and a current ratio of 12.65. The firm has a market capitalization of $2.94 billion, a P/E ratio of -8.74 and a beta of 1.00.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($1.08) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.18). Viridian Therapeutics had a negative net margin of 483.57% and a negative return on equity of 83.25%. The business had revenue of $0.13 million during the quarter, compared to the consensus estimate of $15.75 million. As a group, sell-side analysts predict that Viridian Therapeutics will post -4.03 earnings per share for the current year.

About Viridian Therapeutics

Viridian Therapeutics, Inc (NASDAQ: VRDN) is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted antibody therapeutics for patients suffering from rare and serious diseases. The company’s lead program, VRDN-001, is a fully human monoclonal antibody that antagonizes the insulin-like growth factor-1 receptor (IGF-1R), with an initial focus on thyroid eye disease (TED). By selectively inhibiting IGF-1R signaling, VRDN-001 aims to reduce inflammation and tissue remodeling associated with TED and related disorders.

In addition to VRDN-001, Viridian is advancing a second antibody program, VRDN-002, which targets complement-mediated pathways implicated in autoimmune and inflammatory diseases.