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

Viridian Therapeutics, Inc. (NASDAQ:VRDN) has earned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and thirteen have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $38.7857.

A number of research firms recently commented on VRDN. Royal Bank Of Canada upped their price objective on Viridian Therapeutics from $34.00 to $35.00 and gave the company an “outperform” rating in a research report on Tuesday, June 30th. Needham & Company LLC reissued a “buy” rating and issued a $32.00 target price on shares of Viridian Therapeutics in a research report on Monday, June 29th. Wells Fargo & Company upgraded Viridian Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $20.00 to $31.00 in a research note on Monday, June 29th. The Goldman Sachs Group reiterated a “buy” rating and issued a $39.00 price objective on shares of Viridian Therapeutics in a research note on Tuesday, June 30th. Finally, Wall Street Zen downgraded shares of Viridian Therapeutics from a “sell” rating to a “strong sell” rating in a report on Sunday, July 12th.

Insiders Place Their Bets

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc purchased 1,176,470 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were acquired at an average cost of $17.00 per share, for a total transaction of $19,999,990.00. Following the completion of the transaction, the director owned 5,090,928 shares of the company’s stock, valued at approximately $86,545,776. The trade was a 30.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Viridian Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. MetLife Investment Management LLC raised its stake in shares of Viridian Therapeutics by 0.8% in the fourth quarter. MetLife Investment Management LLC now owns 43,985 shares of the company’s stock worth $1,369,000 after buying an additional 356 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Viridian Therapeutics by 0.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,360 shares of the company’s stock valued at $4,337,000 after acquiring an additional 380 shares during the period. US Bancorp DE raised its holdings in Viridian Therapeutics by 23.2% during the third quarter. US Bancorp DE now owns 2,457 shares of the company’s stock valued at $53,000 after acquiring an additional 463 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Viridian Therapeutics by 0.3% in the first quarter. Bank of New York Mellon Corp now owns 216,525 shares of the company’s stock valued at $4,235,000 after acquiring an additional 659 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Viridian Therapeutics by 1.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company’s stock valued at $669,000 after acquiring an additional 876 shares in the last quarter.

Viridian Therapeutics Trading Down 5.4%

Shares of VRDN stock opened at $18.03 on Friday. 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 firm’s 50 day moving average is $17.47 and its 200 day moving average is $22.91. The stock has a market capitalization of $1.86 billion, a P/E ratio of -5.43 and a beta of 0.90.

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

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.