Viridian Therapeutics (NASDAQ:VRDN) Price Target Cut to $33.00 by Analysts at Truist Financial

Viridian Therapeutics (NASDAQ:VRDN) had its price target reduced by Truist Financial from $36.00 to $33.00 in a report issued on Tuesday morning, MarketBeat Ratings reports. Truist Financial currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Viridian Therapeutics in a research note on Wednesday, January 21st. Evercore reissued an “outperform” rating and set a $44.00 price target on shares of Viridian Therapeutics in a research report on Tuesday, January 20th. The Goldman Sachs Group cut their price target on Viridian Therapeutics from $36.00 to $31.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Wells Fargo & Company reduced their price objective on Viridian Therapeutics from $29.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. Finally, UBS Group assumed coverage on Viridian Therapeutics in a research note on Wednesday, January 7th. They set a “buy” rating and a $50.00 price objective on the stock. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Viridian Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $37.07.

Viridian Therapeutics Stock Performance

VRDN opened at $14.28 on Tuesday. Viridian Therapeutics has a 1-year low of $11.76 and a 1-year high of $34.29. The stock has a market cap of $1.46 billion, a P/E ratio of -4.34 and a beta of 1.16. The stock’s 50 day simple moving average is $24.26 and its 200 day simple moving average is $27.42. The company has a debt-to-equity ratio of 0.08, a current ratio of 12.65 and a quick ratio of 12.65.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings data 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 firm had revenue of $0.13 million for the quarter, compared to analyst estimates of $15.75 million. Viridian Therapeutics had a negative return on equity of 83.25% and a negative net margin of 483.57%. As a group, equities analysts anticipate that Viridian Therapeutics will post -3.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Viridian Therapeutics by 1.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company’s stock valued at $669,000 after purchasing an additional 876 shares during the period. Goldman Sachs Group Inc. lifted its position in 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 buying an additional 310,998 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake 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 worth $1,760,000 after buying an additional 14,788 shares during the last quarter. Envestnet Asset Management Inc. purchased a new stake in Viridian Therapeutics in the 2nd quarter valued at about $187,000. Finally, Creative Planning purchased a new stake in Viridian Therapeutics in the 2nd quarter valued at about $179,000.

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.