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 eleven research firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $35.80.

VRDN has been the topic of several analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $44.00 price objective on shares of Viridian Therapeutics in a report on Thursday, September 19th. Wedbush reaffirmed an “outperform” rating and issued a $42.00 price target on shares of Viridian Therapeutics in a report on Monday, July 29th. Oppenheimer reissued an “outperform” rating and set a $28.00 price objective (down from $31.00) on shares of Viridian Therapeutics in a report on Monday, August 12th. BTIG Research upped their target price on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, The Goldman Sachs Group lifted their price target on Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th.

Insider Activity at Viridian Therapeutics

In related news, Director Fairmount Funds Management Llc bought 1,600,000 shares of the business’s 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 completion of the purchase, the director now owns 3,445,813 shares of the company’s stock, valued at $64,608,993.75. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Viridian Therapeutics news, CEO Stephen F. Mahoney bought 21,400 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were purchased at an average cost of $23.33 per share, for a total transaction of $499,262.00. Following the transaction, the chief executive officer now directly owns 21,400 shares in the company, valued at $499,262. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Fairmount Funds Management Llc purchased 1,600,000 shares of Viridian Therapeutics stock in a transaction on Friday, September 13th. The shares were acquired at an average price of $18.75 per share, with a total value of $30,000,000.00. Following the transaction, the director now directly owns 3,445,813 shares in the company, valued at $64,608,993.75. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 1,626,400 shares of company stock worth $30,616,312 in the last 90 days. 0.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Viridian Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. raised its position in shares of Viridian Therapeutics by 19.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock worth $87,000 after buying an additional 799 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Viridian Therapeutics by 9.7% during the 1st quarter. Principal Financial Group Inc. now owns 11,915 shares of the company’s stock valued at $209,000 after purchasing an additional 1,058 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Viridian Therapeutics by 4.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,822 shares of the company’s stock valued at $505,000 after purchasing an additional 1,135 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Viridian Therapeutics by 14.7% in the 2nd quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock worth $171,000 after buying an additional 1,688 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Viridian Therapeutics by 24.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock valued at $156,000 after buying an additional 2,359 shares during the period.

Viridian Therapeutics Trading Down 1.3 %

VRDN opened at $23.05 on Monday. The firm has a market capitalization of $1.47 billion, a P/E ratio of -5.12 and a beta of 1.08. The firm’s 50 day moving average is $20.22 and its 200-day moving average is $16.11. The company has a quick ratio of 15.82, a current ratio of 15.82 and a debt-to-equity ratio of 0.05. Viridian Therapeutics has a 52-week low of $11.01 and a 52-week high of $25.39.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.15). Viridian Therapeutics had a negative net margin of 79,185.77% and a negative return on equity of 83.18%. The firm had revenue of $0.07 million during the quarter, compared to analysts’ expectations of $0.09 million. Analysts expect that Viridian Therapeutics will post -3.94 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.