Viridian Therapeutics (NASDAQ:VRDN) Stock Rating Reaffirmed by Royal Bank of Canada

Viridian Therapeutics (NASDAQ:VRDN)‘s stock had its “outperform” rating reaffirmed by investment analysts at Royal Bank of Canada in a research note issued to investors on Thursday, Benzinga reports. They currently have a $44.00 target price on the stock. Royal Bank of Canada’s target price indicates a potential upside of 97.31% from the company’s previous close.

VRDN has been the subject of several other research reports. The Goldman Sachs Group increased their price target on Viridian Therapeutics from $25.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. HC Wainwright reiterated a “buy” rating and issued a $27.00 price target on shares of Viridian Therapeutics in a report on Tuesday, September 10th. Wedbush reiterated an “outperform” rating and issued a $42.00 price target on shares of Viridian Therapeutics in a report on Monday, July 29th. Needham & Company LLC raised their target price on Viridian Therapeutics from $30.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, BTIG Research raised their target price on Viridian Therapeutics from $46.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Viridian Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $35.30.

Viridian Therapeutics Stock Down 0.9 %

Shares of Viridian Therapeutics stock opened at $22.30 on Thursday. The firm has a market cap of $1.42 billion, a PE ratio of -4.96 and a beta of 1.03. Viridian Therapeutics has a 52-week low of $10.93 and a 52-week high of $24.18. The business’s 50 day simple moving average is $16.29 and its 200 day simple moving average is $15.13. The company has a debt-to-equity ratio of 0.05, a quick ratio of 15.82 and a current ratio of 15.82.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.15). Viridian Therapeutics had a negative net margin of 79,185.77% and a negative return on equity of 83.18%. The company had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.09 million. On average, analysts predict that Viridian Therapeutics will post -3.93 earnings per share for the current fiscal year.

Insider Activity at Viridian Therapeutics

In other news, Director Fairmount Funds Management Llc bought 1,600,000 shares of Viridian Therapeutics stock in a transaction on Friday, September 13th. The shares were purchased at an average price of $18.75 per share, for a total transaction of $30,000,000.00. Following the acquisition, the director now owns 3,445,813 shares of the company’s stock, valued at $64,608,993.75. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.65% of the stock is owned by company insiders.

Institutional Trading of Viridian Therapeutics

Hedge funds have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. boosted its stake in shares of Viridian Therapeutics by 19.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock worth $87,000 after buying an additional 799 shares during the last quarter. Quest Partners LLC grew its position in Viridian Therapeutics by 344.0% in the second quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock worth $79,000 after acquiring an additional 4,692 shares in the last quarter. Principal Financial Group Inc. grew its position in Viridian Therapeutics by 9.7% in the first quarter. Principal Financial Group Inc. now owns 11,915 shares of the company’s stock worth $209,000 after acquiring an additional 1,058 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Viridian Therapeutics by 24.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock valued at $156,000 after buying an additional 2,359 shares during the period. Finally, AlphaCentric Advisors LLC increased its position in shares of Viridian Therapeutics by 108.3% during the second quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock worth $163,000 after purchasing an additional 6,500 shares in the last quarter.

About Viridian Therapeutics

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.