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

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have been given an average recommendation of “Moderate Buy” by the fourteen brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and thirteen have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $38.9286.

VRDN has been the subject of a number of research reports. Needham & Company LLC reissued a “buy” rating and issued a $32.00 price target on shares of Viridian Therapeutics in a research note on Monday, June 29th. Evercore set a $26.00 price objective on shares of Viridian Therapeutics in a research report on Friday, May 15th. Royal Bank Of Canada lifted their price objective on shares of Viridian Therapeutics from $35.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday. Wall Street Zen lowered shares of Viridian Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings cut Viridian Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 30th.

Viridian Therapeutics Stock Performance

Shares of VRDN opened at $23.06 on Tuesday. Viridian Therapeutics has a 12-month low of $13.18 and a 12-month high of $34.29. The company has a current ratio of 15.15, a quick ratio of 15.15 and a debt-to-equity ratio of 0.10. The company has a market cap of $2.61 billion, a PE ratio of -6.84 and a beta of 0.91. The stock has a 50-day moving average price of $18.51 and a 200-day moving average price of $21.52.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.02). The company had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.06 million. Viridian Therapeutics had a negative return on equity of 76.65% and a negative net margin of 505.86%. As a group, equities analysts forecast that Viridian Therapeutics will post -4.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Viridian Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Perceptive Advisors LLC lifted its holdings in shares of Viridian Therapeutics by 108.1% in the 4th quarter. Perceptive Advisors LLC now owns 3,042,703 shares of the company’s stock worth $94,689,000 after acquiring an additional 1,580,303 shares during the last quarter. Jennison Associates LLC bought a new position in shares of Viridian Therapeutics during the 4th quarter valued at $35,915,000. Avoro Capital Advisors LLC bought a new position in shares of Viridian Therapeutics during the 4th quarter valued at $46,680,000. Vanguard Group Inc. raised its position in Viridian Therapeutics by 29.6% in the 4th quarter. Vanguard Group Inc. now owns 5,612,144 shares of the company’s stock worth $174,650,000 after purchasing an additional 1,280,161 shares during the period. Finally, Privium Fund Management B.V. purchased a new position in Viridian Therapeutics in the 4th quarter worth $5,400,000.

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.