Viridian Therapeutics, Inc. (NASDAQ:VRDN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have earned an average rating of “Moderate Buy” from the fifteen analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and thirteen have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $42.4286.

Several brokerages have weighed in on VRDN. Needham & Company LLC increased their price objective on Viridian Therapeutics from $34.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, December 23rd. William Blair initiated coverage on Viridian Therapeutics in a research note on Wednesday, December 3rd. They set an “outperform” rating for the company. Oppenheimer lifted their price objective on Viridian Therapeutics from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Wall Street Zen raised shares of Viridian Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Viridian Therapeutics in a research note on Wednesday.

Viridian Therapeutics Price Performance

Viridian Therapeutics stock opened at $32.17 on Friday. Viridian Therapeutics has a 52 week low of $9.90 and a 52 week high of $34.29. The company’s 50 day moving average price is $31.61 and its two-hundred day moving average price is $24.02. The stock has a market cap of $3.07 billion, a P/E ratio of -10.65 and a beta of 0.90. The company has a quick ratio of 11.28, a current ratio of 11.28 and a debt-to-equity ratio of 0.07.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.48. Viridian Therapeutics had a negative return on equity of 78.50% and a negative net margin of 426.58%.The company had revenue of $70.57 million during the quarter, compared to the consensus estimate of $16.21 million. Viridian Therapeutics’s revenue was up 81993.0% compared to the same quarter last year. On average, equities analysts predict that Viridian Therapeutics will post -4.03 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Jennifer Tousignant sold 2,272 shares of Viridian Therapeutics stock in a transaction that occurred on 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 can be accessed through this link. Company insiders own 1.58% of the company’s stock.

Hedge Funds Weigh In On Viridian Therapeutics

A number of large investors have recently made changes to their positions in VRDN. Commodore Capital LP raised its stake in shares of Viridian Therapeutics by 35.4% during the 2nd quarter. Commodore Capital LP now owns 4,875,000 shares of the company’s stock valued at $68,152,000 after purchasing an additional 1,275,000 shares during the period. Wellington Management Group LLP grew its holdings in Viridian Therapeutics by 314.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,122,532 shares of the company’s stock valued at $24,224,000 after buying an additional 851,989 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Viridian Therapeutics by 135.6% during the third quarter. Fisher Asset Management LLC now owns 1,201,226 shares of the company’s stock valued at $25,922,000 after buying an additional 691,267 shares during the period. Rice Hall James & Associates LLC lifted its holdings in shares of Viridian Therapeutics by 65.2% in the third quarter. Rice Hall James & Associates LLC now owns 851,663 shares of the company’s stock worth $18,379,000 after buying an additional 336,040 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Viridian Therapeutics by 33.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,231,092 shares of the company’s stock worth $16,595,000 after buying an additional 310,998 shares in the last quarter.

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.