Viridian Therapeutics (NASDAQ:VRDN) Price Target Cut to $42.00 by Analysts at Royal Bank Of Canada

Viridian Therapeutics (NASDAQ:VRDN) had its price target dropped by research analysts at Royal Bank Of Canada from $45.00 to $42.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 47.25% from the stock’s current price.

A number of other equities research analysts have also commented on the company. Truist Financial decreased their price objective on Viridian Therapeutics from $41.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Needham & Company LLC reiterated a “buy” rating and issued a $42.00 target price on shares of Viridian Therapeutics in a research report on Wednesday, February 4th. BTIG Research restated a “buy” rating and set a $61.00 price target on shares of Viridian Therapeutics in a report on Tuesday, November 4th. Wedbush upped their price target on shares of Viridian Therapeutics from $42.00 to $47.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 10th. Finally, Evercore reiterated an “outperform” rating and set a $44.00 price objective on shares of Viridian Therapeutics in a report on Tuesday, January 20th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.43.

Viridian Therapeutics Trading Down 3.3%

Viridian Therapeutics stock traded down $0.97 during midday trading on Friday, reaching $28.52. The stock had a trading volume of 567,817 shares, compared to its average volume of 1,457,425. Viridian Therapeutics has a twelve month low of $9.90 and a twelve month high of $34.29. The company has a debt-to-equity ratio of 0.07, a current ratio of 11.28 and a quick ratio of 11.28. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of -9.44 and a beta of 0.98. The firm’s fifty day simple moving average is $31.08 and its two-hundred day simple moving average is $26.32.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results on Thursday, February 26th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.18). The business had revenue of $0.13 million during the quarter, compared to analysts’ expectations of $15.75 million. Viridian Therapeutics had a negative net margin of 426.58% and a negative return on equity of 78.50%. Equities analysts anticipate that Viridian Therapeutics will post -4.03 EPS for the current fiscal year.

Insider Transactions at Viridian Therapeutics

In related news, insider Jennifer Tousignant sold 2,272 shares of the stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $31.16, for a total value of $70,795.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.58% of the stock is owned by company insiders.

Institutional Investors Weigh In On Viridian Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd bought a new position in Viridian Therapeutics in the third quarter valued at approximately $35,000. ANTIPODES PARTNERS Ltd bought a new stake in Viridian Therapeutics in the 4th quarter valued at $36,000. Farther Finance Advisors LLC lifted its holdings in shares of Viridian Therapeutics by 332.1% during the third quarter. Farther Finance Advisors LLC now owns 1,940 shares of the company’s stock worth $42,000 after buying an additional 1,491 shares in the last quarter. Bessemer Group Inc. raised its holdings in Viridian Therapeutics by 947.7% in the 3rd quarter. Bessemer Group Inc. now owns 2,085 shares of the company’s stock valued at $45,000 after acquiring an additional 1,886 shares in the last quarter. Finally, Larson Financial Group LLC acquired a new position in Viridian Therapeutics during the third quarter valued at approximately $52,000.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc (NASDAQ: VRDN) is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted antibody therapeutics for patients suffering from rare and serious diseases. The company’s lead program, VRDN-001, is a fully human monoclonal antibody that antagonizes the insulin-like growth factor-1 receptor (IGF-1R), with an initial focus on thyroid eye disease (TED). By selectively inhibiting IGF-1R signaling, VRDN-001 aims to reduce inflammation and tissue remodeling associated with TED and related disorders.

In addition to VRDN-001, Viridian is advancing a second antibody program, VRDN-002, which targets complement-mediated pathways implicated in autoimmune and inflammatory diseases.