Viridian Therapeutics, Inc. (NASDAQ:VRDN) Receives $38.79 Consensus Target Price from Brokerages

Viridian Therapeutics, Inc. (NASDAQ:VRDN) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating and thirteen have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $38.7857.

VRDN has been the subject of several research analyst reports. The Goldman Sachs Group reissued a “buy” rating and set a $39.00 price objective on shares of Viridian Therapeutics in a research report on Tuesday, June 30th. Evercore set a $26.00 target price on Viridian Therapeutics in a report on Friday, May 15th. Wells Fargo & Company raised Viridian Therapeutics from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $20.00 to $31.00 in a report on Monday, June 29th. Wall Street Zen raised Viridian Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Monday. Finally, Weiss Ratings cut Viridian Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 30th.

Insider Transactions at Viridian Therapeutics

In related news, Director Fairmount Funds Management Llc bought 1,176,470 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $17.00 per share, for a total transaction of $19,999,990.00. Following the purchase, the director directly owned 5,090,928 shares in the company, valued at $86,545,776. This trade represents a 30.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.40% of the company’s stock.

Institutional Trading of Viridian Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of VRDN. ANTIPODES PARTNERS Ltd acquired a new position in shares of Viridian Therapeutics during the fourth quarter valued at about $36,000. KBC Group NV bought a new stake in shares of Viridian Therapeutics in the first quarter valued at about $34,000. Larson Financial Group LLC bought a new stake in shares of Viridian Therapeutics in the third quarter valued at about $52,000. US Bancorp DE grew its position in Viridian Therapeutics by 23.2% during the third quarter. US Bancorp DE now owns 2,457 shares of the company’s stock worth $53,000 after buying an additional 463 shares in the last quarter. Finally, State of Wyoming acquired a new stake in Viridian Therapeutics during the first quarter worth about $93,000.

Viridian Therapeutics Stock Performance

Shares of VRDN opened at $18.03 on Friday. The company has a market capitalization of $1.86 billion, a PE ratio of -5.43 and a beta of 0.90. The company has a debt-to-equity ratio of 0.10, a current ratio of 15.15 and a quick ratio of 15.15. Viridian Therapeutics has a one year low of $13.18 and a one year high of $34.29. The company’s fifty day moving average price is $17.50 and its 200 day moving average price is $22.82.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.90) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.16. The company had revenue of $0.14 million during the quarter, compared to analysts’ expectations of $0.04 million. Viridian Therapeutics had a negative net margin of 490.31% and a negative return on equity of 80.19%. The business’s quarterly revenue was up 95.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.87) earnings per share. As a group, analysts expect that Viridian Therapeutics will post -3.87 earnings per share for the current year.

Viridian Therapeutics Company Profile

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.