Brokerages Set Viridian Therapeutics, Inc. (NASDAQ:VRDN) PT at $38.00

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have received a consensus rating of “Moderate Buy” from the fifteen brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $37.5714.

Several research firms recently weighed in on VRDN. The Goldman Sachs Group reduced their target price on shares of Viridian Therapeutics from $36.00 to $31.00 and set a “buy” rating for the company in a research note on Tuesday. Needham & Company LLC cut their price target on shares of Viridian Therapeutics from $42.00 to $32.00 and set a “buy” rating for the company in a research note on Monday, March 30th. HC Wainwright cut their target price on shares of Viridian Therapeutics from $34.00 to $22.00 and set a “buy” rating for the company in a research note on Tuesday, March 31st. Wells Fargo & Company cut their target price on shares of Viridian Therapeutics from $29.00 to $20.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. Finally, Evercore reissued an “outperform” rating and issued a $44.00 price target on shares of Viridian Therapeutics in a report on Tuesday, January 20th.

Institutional Trading of Viridian Therapeutics

A number of institutional investors have recently bought and sold shares of VRDN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Viridian Therapeutics by 1.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company’s stock worth $669,000 after acquiring an additional 876 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Viridian Therapeutics by 33.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,231,092 shares of the company’s stock worth $16,595,000 after purchasing an additional 310,998 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Viridian Therapeutics by 12.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 130,570 shares of the company’s stock valued at $1,760,000 after acquiring an additional 14,788 shares in the last quarter. Envestnet Asset Management Inc. bought a new stake in Viridian Therapeutics in the 2nd quarter valued at $187,000. Finally, Creative Planning bought a new stake in Viridian Therapeutics in the 2nd quarter valued at $179,000.

Viridian Therapeutics Stock Performance

NASDAQ:VRDN opened at $14.95 on Wednesday. The firm has a market capitalization of $1.53 billion, a PE ratio of -4.54 and a beta of 1.16. The firm’s fifty day simple moving average is $26.47 and its 200 day simple moving average is $27.61. Viridian Therapeutics has a 1 year low of $11.11 and a 1 year high of $34.29. The company has a current ratio of 12.65, a quick ratio of 12.65 and a debt-to-equity ratio of 0.08.

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