Viridian Therapeutics, Inc. (NASDAQ:VRDN) Receives $35.70 Consensus Target Price from Analysts

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the company, MarketBeat.com reports. Three 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 updated their coverage on the stock in the last year is $35.70.

A number of equities analysts recently weighed in on the company. Royal Bank of Canada lifted 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 reissued a “buy” rating and issued 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 research report on Monday, December 16th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $27.00 price objective (down previously from $37.00) on shares of Viridian Therapeutics in a research note on Thursday, December 19th.

Viridian Therapeutics Stock Down 4.3 %

VRDN stock opened at $14.16 on Thursday. The firm has a market cap of $1.15 billion, a PE ratio of -3.29 and a beta of 1.05. Viridian Therapeutics has a 12 month low of $11.40 and a 12 month high of $27.20. The company has a debt-to-equity ratio of 0.04, a current ratio of 18.55 and a quick ratio of 18.55. The firm has a 50 day simple moving average of $16.87 and a 200 day simple moving average of $19.73.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.81) EPS for the quarter, beating analysts’ consensus estimates of ($1.05) by $0.24. The company had revenue of $0.07 million during the quarter, compared to the consensus estimate of $0.05 million. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. Equities research analysts forecast that Viridian Therapeutics will post -4.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Viridian Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VRDN. Principal Financial Group Inc. increased its stake in shares of Viridian Therapeutics by 1,603.4% during the 3rd quarter. Principal Financial Group Inc. now owns 172,810 shares of the company’s stock worth $3,931,000 after purchasing an additional 162,665 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Viridian Therapeutics during the third quarter worth $208,000. Intech Investment Management LLC bought a new position in Viridian Therapeutics during the third quarter valued at about $422,000. Charles Schwab Investment Management Inc. lifted its position in shares of Viridian Therapeutics by 6.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 516,213 shares of the company’s stock worth $11,744,000 after buying an additional 32,292 shares during the last quarter. Finally, Algert Global LLC boosted its stake in shares of Viridian Therapeutics by 107.1% during the 3rd quarter. Algert Global LLC now owns 114,913 shares of the company’s stock worth $2,614,000 after acquiring an additional 59,420 shares in the last quarter.

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.