Viridian Therapeutics’ (VRDN) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Viridian Therapeutics (NASDAQ:VRDN) in a report published on Thursday, Benzinga reports. Royal Bank of Canada currently has a $44.00 price target on the stock.

A number of other research firms also recently commented on VRDN. 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 report on Wednesday, September 11th. Wolfe Research initiated coverage on shares of Viridian Therapeutics in a research note on Tuesday, June 11th. They issued an outperform rating and a $29.00 price target on the stock. BTIG Research raised their price target on Viridian Therapeutics from $46.00 to $56.00 and gave the company a buy rating in a research note on Tuesday, September 10th. Wedbush restated an outperform rating and issued a $42.00 price target on shares of Viridian Therapeutics in a report on Monday, July 29th. Finally, The Goldman Sachs Group raised their price objective on Viridian Therapeutics from $25.00 to $31.00 and gave the stock a buy rating in a research report on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Viridian Therapeutics currently has a consensus rating of Moderate Buy and an average target price of $35.30.

Viridian Therapeutics Stock Performance

Shares of Viridian Therapeutics stock opened at $22.30 on Thursday. Viridian Therapeutics has a 12 month low of $10.93 and a 12 month high of $24.18. 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 has a fifty day simple moving average of $16.29 and a two-hundred day simple moving average of $15.11. The firm has a market capitalization of $1.42 billion, a P/E ratio of -4.96 and a beta of 1.03.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly 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). The firm had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.09 million. Viridian Therapeutics had a negative net margin of 79,185.77% and a negative return on equity of 83.18%. On average, equities analysts forecast that Viridian Therapeutics will post -3.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Fairmount Funds Management Llc bought 1,600,000 shares of the stock in a transaction on Friday, September 13th. The shares were bought at an average cost of $18.75 per share, for a total transaction of $30,000,000.00. Following the purchase, the director now owns 3,445,813 shares of the company’s stock, valued at approximately $64,608,993.75. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.65% of the stock is owned by company insiders.

Hedge Funds Weigh In On Viridian Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. RTW Investments LP acquired a new position in Viridian Therapeutics in the fourth quarter valued at $13,195,000. Perceptive Advisors LLC lifted its position in Viridian Therapeutics by 71.1% in the 4th 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 last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in Viridian Therapeutics by 62.9% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 178,855 shares of the company’s stock valued at $2,327,000 after purchasing an additional 69,035 shares during the period. Vanguard Group Inc. grew its position in Viridian Therapeutics by 7.8% in the 1st quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company’s stock worth $56,632,000 after purchasing an additional 233,331 shares during the last quarter. Finally, Candriam S.C.A. grew its stake in shares of Viridian Therapeutics by 167.8% in the second quarter. Candriam S.C.A. now owns 749,804 shares of the company’s stock worth $9,754,000 after purchasing an additional 469,804 shares in the last quarter.

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.