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

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have earned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $36.1429.

Several equities research analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viridian Therapeutics in a report on Monday, April 20th. Evercore set a $26.00 price objective on Viridian Therapeutics in a research note on Friday, May 15th. The Goldman Sachs Group reduced their price objective on Viridian Therapeutics from $36.00 to $31.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. Truist Financial cut their price target on Viridian Therapeutics from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. Finally, Wells Fargo & Company cut their price target on Viridian Therapeutics from $29.00 to $20.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st.

Insider Buying and Selling at Viridian Therapeutics

In other news, Director Fairmount Funds Management Llc purchased 1,176,470 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was bought at an average cost of $17.00 per share, with a total value of $19,999,990.00. Following the purchase, the director directly owned 5,090,928 shares of the company’s stock, valued at approximately $86,545,776. This trade represents a 30.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Viridian Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Viridian Therapeutics during the 4th quarter worth about $36,000. Aster Capital Management DIFC Ltd bought a new position in shares of Viridian Therapeutics in the 3rd quarter valued at approximately $35,000. KBC Group NV bought a new position in shares of Viridian Therapeutics in the 1st quarter valued at approximately $34,000. Larson Financial Group LLC bought a new position in shares of Viridian Therapeutics in the 3rd quarter valued at approximately $52,000. Finally, US Bancorp DE raised its stake in shares of Viridian Therapeutics by 23.2% in the 3rd quarter. US Bancorp DE now owns 2,457 shares of the company’s stock valued at $53,000 after acquiring an additional 463 shares in the last quarter.

Viridian Therapeutics Stock Performance

Shares of NASDAQ VRDN opened at $16.63 on Monday. Viridian Therapeutics has a 12 month low of $13.18 and a 12 month high of $34.29. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -5.01 and a beta of 0.90. The company has a quick ratio of 15.15, a current ratio of 15.15 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $16.01 and a 200-day simple moving average of $24.71.

Viridian Therapeutics (NASDAQ:VRDN) last announced its earnings results on Tuesday, May 5th. The company reported ($0.90) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.16. Viridian Therapeutics had a negative return on equity of 80.19% and a negative net margin of 490.31%.The business had revenue of $0.14 million during the quarter, compared to the consensus estimate of $0.04 million. During the same period in the prior year, the business posted ($0.87) earnings per share. Viridian Therapeutics’s revenue was up 95.8% compared to the same quarter last year. Sell-side analysts predict that Viridian Therapeutics will post -3.87 EPS for the current year.

About Viridian Therapeutics

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.