Viridian Therapeutics (NASDAQ:VRDN) Given New $31.00 Price Target at The Goldman Sachs Group

Viridian Therapeutics (NASDAQ:VRDN) had its price target boosted by The Goldman Sachs Group from $25.00 to $31.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the company. Needham & Company LLC increased their price target on Viridian Therapeutics from $30.00 to $38.00 and gave the stock a buy rating in a report on Wednesday, September 11th. Wolfe Research started coverage on Viridian Therapeutics in a research report on Tuesday, June 11th. They set an outperform rating and a $29.00 target price on the stock. Wedbush restated an outperform rating and set a $42.00 target price on shares of Viridian Therapeutics in a report on Monday, July 29th. BTIG Research upped their price objective on Viridian Therapeutics from $46.00 to $56.00 and gave the company a buy rating in a research report on Tuesday, September 10th. Finally, Royal Bank of Canada restated an outperform rating and set a $35.00 target price on shares of Viridian Therapeutics in a research report on Wednesday, August 28th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $35.30.

Viridian Therapeutics Stock Performance

NASDAQ VRDN opened at $22.06 on Thursday. The company has a market cap of $1.41 billion, a P/E ratio of -4.90 and a beta of 1.03. Viridian Therapeutics has a 1-year low of $10.93 and a 1-year high of $24.18. The company has a debt-to-equity ratio of 0.05, a current ratio of 15.82 and a quick ratio of 15.82. The stock has a 50-day moving average of $15.39 and a two-hundred day moving average of $14.98.

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

Hedge Funds Weigh In On Viridian Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Novo Holdings A S boosted its holdings in Viridian Therapeutics by 81.8% during the second quarter. Novo Holdings A S now owns 2,000,000 shares of the company’s stock valued at $26,020,000 after acquiring an additional 900,000 shares during the period. Algert Global LLC grew its holdings in Viridian Therapeutics by 46.7% in the 2nd quarter. Algert Global LLC now owns 55,493 shares of the company’s stock valued at $722,000 after buying an additional 17,673 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Viridian Therapeutics by 30.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,687 shares of the company’s stock worth $412,000 after buying an additional 7,450 shares during the period. Millennium Management LLC lifted its holdings in shares of Viridian Therapeutics by 1,014.7% during the second quarter. Millennium Management LLC now owns 228,182 shares of the company’s stock worth $2,969,000 after buying an additional 207,711 shares during the last quarter. Finally, Maverick Capital Ltd. increased its holdings in shares of Viridian Therapeutics by 22.9% during the 2nd quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock worth $43,036,000 after purchasing an additional 615,531 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.