Viridian Therapeutics (NASDAQ:VRDN) Shares Up 8.8%

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) were up 8.8% during trading on Thursday . The company traded as high as $17.33 and last traded at $17.22. Approximately 184,469 shares traded hands during trading, a decline of 81% from the average daily volume of 961,939 shares. The stock had previously closed at $15.82.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. HC Wainwright restated a “buy” rating and set a $27.00 price target on shares of Viridian Therapeutics in a report on Tuesday, July 16th. Needham & Company LLC restated a “buy” rating and issued a $30.00 target price on shares of Viridian Therapeutics in a research report on Tuesday, June 11th. B. Riley downgraded Viridian Therapeutics from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $25.00 to $20.00 in a research report on Thursday, May 9th. Wolfe Research began coverage on shares of Viridian Therapeutics in a research report on Tuesday, June 11th. They issued an “outperform” rating and a $29.00 target price on the stock. Finally, The Goldman Sachs Group started coverage on shares of Viridian Therapeutics in a research report on Thursday, June 6th. They set a “buy” rating and a $23.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

Viridian Therapeutics Price Performance

The company’s 50-day simple moving average is $12.97 and its 200 day simple moving average is $16.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 23.99 and a current ratio of 23.99. The company has a market cap of $1.06 billion, a PE ratio of -3.77 and a beta of 1.12.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.79) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.07) by $0.28. The business had revenue of $0.07 million during the quarter, compared to analysts’ expectations of $0.09 million. Viridian Therapeutics had a negative return on equity of 92.04% and a negative net margin of 75,737.85%. The business’s quarterly revenue was down 26.5% compared to the same quarter last year. During the same quarter last year, the business posted ($1.61) EPS. On average, sell-side analysts predict that Viridian Therapeutics, Inc. will post -3.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Viridian Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of VRDN. Ameritas Investment Partners Inc. increased its holdings in Viridian Therapeutics by 19.2% in the first quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock valued at $87,000 after buying an additional 799 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Viridian Therapeutics by 122.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,369 shares of the company’s stock worth $182,000 after purchasing an additional 4,610 shares during the last quarter. Arizona State Retirement System purchased a new position in Viridian Therapeutics in the fourth quarter valued at approximately $208,000. Principal Financial Group Inc. lifted its position in shares of Viridian Therapeutics by 9.7% during the 1st quarter. Principal Financial Group Inc. now owns 11,915 shares of the company’s stock worth $209,000 after buying an additional 1,058 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in shares of Viridian Therapeutics by 9.7% in the 4th quarter. New York State Common Retirement Fund now owns 17,495 shares of the company’s stock valued at $378,000 after buying an additional 1,545 shares in the last quarter.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc, a biotechnology company, discover and develops treatments for serious and rare diseases. The company's product pipeline includes VRDN-001, a monoclonal antibody targeting insulin-like growth factor-1 receptor that is in Phase 3 clinical trial for the treatment of thyroid eye disease (TED); and VRDN-003, a next generation IGF-1R humanized monoclonal antibodies targeting IGF-1R and incorporating half-life extension technology for the treatment of TED.