Viridian Therapeutics, Inc. (NASDAQ:VRDN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Viridian Therapeutics, Inc. (NASDAQ:VRDN) has been assigned a consensus rating of “Moderate Buy” from the twelve research firms that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $35.70.

Several brokerages recently commented on VRDN. TD Cowen started coverage on shares of Viridian Therapeutics in a report on Monday, November 25th. They set a “buy” rating on the stock. Royal Bank of Canada raised their price target on Viridian Therapeutics from $44.00 to $47.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Needham & Company LLC reiterated a “buy” rating and set a $38.00 target price on shares of Viridian Therapeutics in a research report on Tuesday, January 7th. HC Wainwright restated a “buy” rating and issued a $34.00 price target on shares of Viridian Therapeutics in a report on Monday, December 16th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $27.00 price objective (down previously from $37.00) on shares of Viridian Therapeutics in a report on Thursday, December 19th.

Viridian Therapeutics Stock Down 1.5 %

Shares of NASDAQ VRDN opened at $15.29 on Friday. 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 has a 12-month low of $11.40 and a 12-month high of $27.20. The firm’s 50-day moving average price is $18.27 and its 200-day moving average price is $19.63. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -3.55 and a beta of 1.32.

Viridian Therapeutics (NASDAQ:VRDN) last announced its earnings results on Thursday, February 27th. The company reported ($0.81) EPS for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.24. The firm had revenue of $0.07 million during the quarter, compared to analysts’ expectations of $0.05 million. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. On average, equities research analysts anticipate that Viridian Therapeutics will post -4.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Viridian Therapeutics

Several institutional investors have recently bought and sold shares of the company. R Squared Ltd purchased a new position in Viridian Therapeutics during the 4th quarter worth $26,000. Foresite Capital Management VI LLC purchased a new position in shares of Viridian Therapeutics in the 4th quarter valued at approximately $38,000. AlphaQuest LLC grew its position in Viridian Therapeutics by 119.0% during the 4th quarter. AlphaQuest LLC now owns 2,795 shares of the company’s stock worth $54,000 after purchasing an additional 1,519 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in Viridian Therapeutics by 24.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,646 shares of the company’s stock valued at $147,000 after purchasing an additional 1,516 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Viridian Therapeutics during the 3rd quarter valued at approximately $149,000.

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.