Viridian Therapeutics (NASDAQ:VRDN) Now Covered by TD Cowen

Investment analysts at TD Cowen started coverage on shares of Viridian Therapeutics (NASDAQ:VRDN) in a research note issued on Monday,Briefing.com Automated Import reports. The firm set a “buy” rating on the stock.

A number of other brokerages also recently commented on VRDN. Royal Bank of Canada restated an “outperform” rating and issued a $44.00 target price on shares of Viridian Therapeutics in a research note on Thursday, September 19th. Oppenheimer reaffirmed an “outperform” rating and set a $28.00 target price (down from $31.00) on shares of Viridian Therapeutics in a research report on Monday, August 12th. Wedbush reissued an “outperform” rating and set a $42.00 price target on shares of Viridian Therapeutics in a research report on Monday, July 29th. HC Wainwright lifted their price objective on Viridian Therapeutics from $27.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Viridian Therapeutics in a research note on Wednesday, November 13th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.33.

Viridian Therapeutics Price Performance

VRDN stock opened at $20.20 on Monday. The stock has a market cap of $1.60 billion, a PE ratio of -4.69 and a beta of 1.10. The company has a 50-day moving average price of $22.73 and a 200 day moving average price of $17.19. Viridian Therapeutics has a 12 month low of $11.40 and a 12 month 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 released its earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share 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 the consensus estimate of $0.08 million. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. Equities research analysts anticipate that Viridian Therapeutics will post -4.04 earnings per share for the current year.

Insider Activity

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc purchased 1,600,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was bought at an average cost of $18.75 per share, for a total transaction of $30,000,000.00. Following the completion of the purchase, the director now owns 3,445,813 shares in the company, valued at $64,608,993.75. This represents a 86.68 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Thomas W. Beetham purchased 5,000 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were acquired at an average price of $23.41 per share, for a total transaction of $117,050.00. Following the purchase, the chief operating officer now directly owns 6,000 shares of the company’s stock, valued at approximately $140,460. The trade was a 500.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 1,626,400 shares of company stock worth $30,616,312. Corporate insiders own 0.65% of the company’s stock.

Institutional Trading of Viridian Therapeutics

A number of institutional investors have recently bought and sold shares of VRDN. Quest Partners LLC raised its holdings in shares of Viridian Therapeutics by 344.0% in the second quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock worth $79,000 after buying an additional 4,692 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Viridian Therapeutics in the 3rd quarter worth $149,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Viridian Therapeutics by 24.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock worth $156,000 after acquiring an additional 2,359 shares during the period. AlphaCentric Advisors LLC grew its stake 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 purchasing an additional 6,500 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Viridian Therapeutics by 14.7% in the second quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock valued at $171,000 after purchasing an additional 1,688 shares during the period.

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.