Viridian Therapeutics, Inc. (NASDAQ:VRDN) Receives $35.70 Average Price Target from Brokerages

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have been given an average recommendation of “Moderate Buy” by the twelve ratings firms that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $35.70.

Several analysts have commented on VRDN shares. Wells Fargo & Company reissued an “equal weight” rating and set a $27.00 price target (down from $37.00) on shares of Viridian Therapeutics in a research report on Thursday, December 19th. Needham & Company LLC restated a “buy” rating and issued a $38.00 target price on shares of Viridian Therapeutics in a research note on Tuesday. Royal Bank of Canada lifted their price target on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. HC Wainwright reiterated a “buy” rating and set a $34.00 price objective on shares of Viridian Therapeutics in a report on Monday, December 16th. Finally, BTIG Research boosted their target price on Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th.

Viridian Therapeutics Stock Performance

Shares of NASDAQ:VRDN opened at $19.15 on Friday. The firm has a 50 day moving average of $20.67 and a 200 day moving average of $18.81. The company has a quick ratio of 18.55, a current ratio of 18.55 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -4.44 and a beta of 1.13. Viridian Therapeutics has a 52 week low of $11.40 and a 52 week high of $27.20.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.04). Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. The company had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.08 million. On average, sell-side analysts predict that Viridian Therapeutics will post -4.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Viridian Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of VRDN. Quest Partners LLC boosted its holdings in shares of Viridian Therapeutics by 344.0% in the 2nd quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock valued at $79,000 after acquiring an additional 4,692 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Viridian Therapeutics during the third quarter valued at $149,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Viridian Therapeutics by 24.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock valued at $156,000 after purchasing an additional 2,359 shares during the last quarter. Arizona State Retirement System boosted its holdings in Viridian Therapeutics by 14.7% in the second quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock valued at $171,000 after purchasing an additional 1,688 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Viridian Therapeutics during the 3rd quarter valued at about $208,000.

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.