Viridian Therapeutics, Inc. (NASDAQ:VRDN) Receives $35.30 Average Target Price from Brokerages

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have received a consensus recommendation of “Moderate Buy” from the eleven analysts that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $35.80.

VRDN has been the topic of several recent research reports. HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective on shares of Viridian Therapeutics in a research report on Tuesday, September 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $44.00 price target on shares of Viridian Therapeutics in a report on Thursday, September 19th. Oppenheimer reissued an “outperform” rating and issued a $28.00 price objective (down from $31.00) on shares of Viridian Therapeutics in a report on Monday, August 12th. BTIG Research lifted their target price on Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Wedbush reiterated an “outperform” rating and set a $42.00 price target on shares of Viridian Therapeutics in a research report on Monday, July 29th.

Insider Transactions at Viridian Therapeutics

In related news, Director Fairmount Funds Management Llc purchased 1,600,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was acquired at an average price of $18.75 per share, for a total transaction of $30,000,000.00. Following the transaction, the director now directly owns 3,445,813 shares of the company’s stock, valued at approximately $64,608,993.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Viridian Therapeutics news, COO Thomas W. Beetham bought 5,000 shares of Viridian Therapeutics stock in a transaction dated Friday, September 27th. The stock was bought at an average price of $23.41 per share, for a total transaction of $117,050.00. Following the completion of the acquisition, the chief operating officer now directly owns 6,000 shares of the company’s stock, valued at $140,460. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Fairmount Funds Management Llc bought 1,600,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was acquired at an average cost of $18.75 per share, with a total value of $30,000,000.00. Following the transaction, the director now owns 3,445,813 shares of the company’s stock, valued at $64,608,993.75. The disclosure for this purchase can be found here. Insiders have purchased 1,626,400 shares of company stock valued at $30,616,312 over the last three months. Company insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Viridian Therapeutics

Hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its holdings in shares of Viridian Therapeutics by 18.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 371,311 shares of the company’s stock valued at $8,087,000 after purchasing an additional 58,094 shares during the period. Affinity Asset Advisors LLC acquired a new position in Viridian Therapeutics in the 4th quarter valued at approximately $1,089,000. RTW Investments LP purchased a new stake in Viridian Therapeutics in the 4th quarter worth approximately $13,195,000. Vestal Point Capital LP acquired a new stake in shares of Viridian Therapeutics during the 4th quarter valued at $21,780,000. Finally, Perceptive Advisors LLC grew its holdings in shares of Viridian Therapeutics by 71.1% during the 4th quarter. Perceptive Advisors LLC now owns 1,730,212 shares of the company’s stock valued at $37,684,000 after acquiring an additional 719,007 shares in the last quarter.

Viridian Therapeutics Stock Up 2.7 %

Shares of Viridian Therapeutics stock opened at $24.25 on Thursday. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of -5.39 and a beta of 1.03. Viridian Therapeutics has a twelve month low of $10.93 and a twelve month high of $24.68. The company has a current ratio of 15.82, a quick ratio of 15.82 and a debt-to-equity ratio of 0.05. The business’s 50 day simple moving average is $17.48 and its 200-day simple moving average is $15.35.

Viridian Therapeutics (NASDAQ:VRDN) last issued its earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.15). Viridian Therapeutics had a negative return on equity of 83.18% and a negative net margin of 79,185.77%. The company had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.09 million. Equities research analysts forecast that Viridian Therapeutics will post -3.94 earnings per share for the current year.

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.