Royal Bank Of Canada Issues Pessimistic Forecast for Viridian Therapeutics (NASDAQ:VRDN) Stock Price

Viridian Therapeutics (NASDAQ:VRDN) had its price target dropped by investment analysts at Royal Bank Of Canada from $45.00 to $42.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 42.95% from the stock’s current price.

VRDN has been the subject of several other research reports. UBS Group started coverage on shares of Viridian Therapeutics in a research report on Wednesday, January 7th. They issued a “buy” rating and a $50.00 price objective for the company. Wells Fargo & Company boosted their target price on Viridian Therapeutics from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 3rd. Wall Street Zen raised Viridian Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. BTIG Research reiterated a “buy” rating and issued a $61.00 price objective on shares of Viridian Therapeutics in a research report on Tuesday, November 4th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $40.00 target price on shares of Viridian Therapeutics in a research report on Thursday, November 6th. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.43.

Viridian Therapeutics Stock Performance

Shares of NASDAQ:VRDN opened at $29.38 on Friday. The business has a fifty day moving average of $31.03 and a 200-day moving average of $26.46. The company has a debt-to-equity ratio of 0.07, a quick ratio of 11.28 and a current ratio of 11.28. Viridian Therapeutics has a twelve month low of $9.90 and a twelve month high of $34.29. The firm has a market cap of $2.80 billion, a PE ratio of -8.93 and a beta of 0.98.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($1.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.18). The company had revenue of $0.13 million for the quarter, compared to the consensus estimate of $15.75 million. Viridian Therapeutics had a negative return on equity of 97.33% and a negative net margin of 483.57%. On average, equities research analysts predict that Viridian Therapeutics will post -4.03 EPS for the current fiscal year.

Insider Transactions at Viridian Therapeutics

In other news, insider Jennifer Tousignant sold 2,272 shares of the business’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $31.16, for a total transaction of $70,795.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.58% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of VRDN. Aster Capital Management DIFC Ltd acquired a new position in shares of Viridian Therapeutics in the 3rd quarter valued at $35,000. ANTIPODES PARTNERS Ltd bought a new position in Viridian Therapeutics during the fourth quarter worth about $36,000. Farther Finance Advisors LLC grew its stake in Viridian Therapeutics by 332.1% in the third quarter. Farther Finance Advisors LLC now owns 1,940 shares of the company’s stock valued at $42,000 after acquiring an additional 1,491 shares during the period. Bessemer Group Inc. increased its holdings in shares of Viridian Therapeutics by 947.7% in the third quarter. Bessemer Group Inc. now owns 2,085 shares of the company’s stock worth $45,000 after acquiring an additional 1,886 shares in the last quarter. Finally, Larson Financial Group LLC acquired a new stake in shares of Viridian Therapeutics during the third quarter worth about $52,000.

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.