Analysts Set Viridian Therapeutics, Inc. (NASDAQ:VRDN) Target Price at $35.80

Viridian Therapeutics, Inc. (NASDAQ:VRDN) has earned a consensus rating of “Moderate Buy” from the eleven brokerages that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $35.80.

Several equities research analysts have issued reports on VRDN shares. Needham & Company LLC lifted their price objective on Viridian Therapeutics from $30.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Wedbush restated an “outperform” rating and issued a $42.00 price target on shares of Viridian Therapeutics in a research note on Monday, July 29th. Royal Bank of Canada reiterated an “outperform” rating and set a $44.00 price objective on shares of Viridian Therapeutics in a research note on Thursday, September 19th. Oppenheimer reissued an “outperform” rating and issued a $28.00 target price (down previously from $31.00) on shares of Viridian Therapeutics in a research report on Monday, August 12th. Finally, The Goldman Sachs Group increased their price target on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th.

Viridian Therapeutics Price Performance

VRDN opened at $23.39 on Monday. Viridian Therapeutics has a twelve month low of $10.93 and a twelve month high of $25.39. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of -5.30 and a beta of 1.08. The company has a current ratio of 15.82, a quick ratio of 15.82 and a debt-to-equity ratio of 0.05. The company has a fifty day simple moving average of $19.71 and a 200 day simple moving average of $15.97.

Viridian Therapeutics (NASDAQ:VRDN) last announced its earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.15). Viridian Therapeutics had a negative net margin of 79,185.77% and a negative return on equity of 83.18%. The business had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.09 million. Equities research analysts expect that Viridian Therapeutics will post -3.94 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Fairmount Funds Management Llc bought 1,600,000 shares of the stock in a transaction dated Friday, September 13th. The stock was bought at an average cost of $18.75 per share, with a total value of $30,000,000.00. Following the completion of the acquisition, the director now owns 3,445,813 shares of the company’s stock, valued at $64,608,993.75. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Stephen F. Mahoney acquired 21,400 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were acquired at an average price of $23.33 per share, with a total value of $499,262.00. Following the acquisition, the chief executive officer now directly owns 21,400 shares in the company, valued at approximately $499,262. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Fairmount Funds Management Llc acquired 1,600,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was purchased at an average price of $18.75 per share, for a total transaction of $30,000,000.00. Following the completion of the transaction, the director now owns 3,445,813 shares in the company, valued at $64,608,993.75. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 1,626,400 shares of company stock valued at $30,616,312 over the last quarter. Insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Viridian Therapeutics

Several large investors have recently made changes to their positions in VRDN. Quest Partners LLC grew its stake in shares of Viridian Therapeutics by 344.0% in the second quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock worth $79,000 after purchasing an additional 4,692 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in Viridian Therapeutics by 19.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock valued at $87,000 after buying an additional 799 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Viridian Therapeutics by 24.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock worth $156,000 after buying an additional 2,359 shares in the last quarter. AlphaCentric Advisors LLC lifted its stake in shares of Viridian Therapeutics by 108.3% in the 2nd quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock worth $163,000 after acquiring an additional 6,500 shares during the period. Finally, Arizona State Retirement System boosted its holdings in shares of Viridian Therapeutics by 14.7% in the second quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock valued at $171,000 after acquiring an additional 1,688 shares in the last quarter.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc, a biotechnology company, discover and develops treatments for serious and rare diseases. The company's product pipeline includes VRDN-001, a monoclonal antibody targeting insulin-like growth factor-1 receptor that is in Phase 3 clinical trial for the treatment of thyroid eye disease (TED); and VRDN-003, a next generation IGF-1R humanized monoclonal antibodies targeting IGF-1R and incorporating half-life extension technology for the treatment of TED.