Analysts Set Viridian Therapeutics, Inc. (NASDAQ:VRDN) Price Target at $36.33

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have been given an average recommendation of “Moderate Buy” by the eleven analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $36.33.

VRDN has been the subject of several analyst reports. The Goldman Sachs Group upped their price target on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. HC Wainwright increased their target price on Viridian Therapeutics from $27.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 price target on shares of Viridian Therapeutics in a research note on Monday, November 25th. TD Cowen assumed coverage on Viridian Therapeutics in a research note on Monday, November 25th. They set a “buy” rating for the company. Finally, BTIG Research lifted their target price on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th.

Insider Activity at Viridian Therapeutics

In related news, CEO Stephen F. Mahoney purchased 21,400 shares of Viridian Therapeutics stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average price of $23.33 per share, for a total transaction of $499,262.00. Following the completion of the transaction, the chief executive officer now directly owns 21,400 shares of the company’s stock, valued at $499,262. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Thomas W. Beetham purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was bought at an average cost of $23.41 per share, with a total value of $117,050.00. Following the completion of the purchase, the chief operating officer now owns 6,000 shares of the company’s stock, valued at $140,460. This represents a 500.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.65% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in Viridian Therapeutics by 20.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,369 shares of the company’s stock worth $550,000 after purchasing an additional 5,429 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Viridian Therapeutics by 13.9% in the 1st quarter. California State Teachers Retirement System now owns 42,596 shares of the company’s stock worth $746,000 after buying an additional 5,202 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Viridian Therapeutics in the 2nd quarter worth about $599,000. Hennion & Walsh Asset Management Inc. increased its stake in shares of Viridian Therapeutics by 62.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 178,855 shares of the company’s stock worth $2,327,000 after acquiring an additional 69,035 shares in the last quarter. Finally, AlphaCentric Advisors LLC lifted its position in Viridian Therapeutics by 108.3% during the 2nd quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock valued at $163,000 after acquiring an additional 6,500 shares during the period.

Viridian Therapeutics Stock Performance

Shares of NASDAQ VRDN opened at $17.85 on Tuesday. The stock’s 50-day moving average is $22.04 and its 200 day moving average is $17.88. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -4.14 and a beta of 1.04. Viridian Therapeutics has a 1-year low of $11.40 and a 1-year high of $27.20. The company has a current ratio of 18.55, a quick ratio of 18.55 and a debt-to-equity ratio of 0.04.

Viridian Therapeutics (NASDAQ:VRDN) last posted 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). The business had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $0.08 million. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. On average, sell-side analysts anticipate that Viridian Therapeutics will post -4.03 EPS for the current fiscal 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.