Viridian Therapeutics (NASDAQ:VRDN) PT Raised to $61.00

Viridian Therapeutics (NASDAQ:VRDN) had its price target increased by equities researchers at BTIG Research from $56.00 to $61.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price objective would suggest a potential upside of 161.47% from the company’s previous close.

Other equities analysts have also issued research reports about the company. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price target on shares of Viridian Therapeutics in a research report on Tuesday, September 10th. Oppenheimer reiterated an “outperform” rating and issued a $28.00 target price (down previously from $31.00) on shares of Viridian Therapeutics in a research note on Monday, August 12th. Wedbush reiterated an “outperform” rating and set a $42.00 price target on shares of Viridian Therapeutics in a report on Monday, July 29th. The Goldman Sachs Group boosted their price objective on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Finally, Needham & Company LLC increased their target price on Viridian Therapeutics from $30.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Viridian Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.80.

Viridian Therapeutics Price Performance

Shares of NASDAQ VRDN opened at $23.33 on Thursday. The company has a 50 day simple moving average of $16.99 and a two-hundred day simple moving average of $15.23. Viridian Therapeutics has a fifty-two week low of $10.93 and a fifty-two week high of $24.18. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -5.18 and a beta of 1.03. 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 posted its quarterly earnings data 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. Analysts expect that Viridian Therapeutics will post -3.94 EPS for the current fiscal year.

Insider Transactions at Viridian Therapeutics

In other news, Director Fairmount Funds Management Llc purchased 1,600,000 shares of the business’s stock in a transaction on Friday, September 13th. The stock was acquired at an average cost of $18.75 per share, for a total transaction of $30,000,000.00. Following the purchase, the director now directly owns 3,445,813 shares in the company, valued at approximately $64,608,993.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in VRDN. RTW Investments LP purchased a new stake in shares of Viridian Therapeutics in the 4th quarter worth $13,195,000. Perceptive Advisors LLC grew its holdings in Viridian Therapeutics by 71.1% during the fourth quarter. Perceptive Advisors LLC now owns 1,730,212 shares of the company’s stock valued at $37,684,000 after purchasing an additional 719,007 shares during the period. Hennion & Walsh Asset Management Inc. increased its position in Viridian Therapeutics by 62.9% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 178,855 shares of the company’s stock worth $2,327,000 after buying an additional 69,035 shares in the last quarter. Vanguard Group Inc. increased its position in Viridian Therapeutics by 7.8% in the first quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company’s stock worth $56,632,000 after buying an additional 233,331 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Viridian Therapeutics by 34.5% in the second quarter. Rhumbline Advisers now owns 90,826 shares of the company’s stock worth $1,182,000 after buying an additional 23,305 shares during the period.

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.