Viridian Therapeutics (NASDAQ:VRDN) Downgraded by B. Riley

Viridian Therapeutics (NASDAQ:VRDN) was downgraded by equities research analysts at B. Riley from a “buy” rating to a “neutral” rating in a report issued on Thursday, FinViz reports. They presently have a $20.00 price objective on the stock, down from their prior price objective of $25.00. B. Riley’s target price suggests a potential upside of 34.23% from the company’s previous close.

Several other equities analysts also recently issued reports on VRDN. Needham & Company LLC reissued a “buy” rating and set a $30.00 price target on shares of Viridian Therapeutics in a report on Wednesday, March 20th. Wedbush boosted their target price on shares of Viridian Therapeutics from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. Finally, HC Wainwright restated a “buy” rating and issued a $37.00 price target on shares of Viridian Therapeutics in a research note on Thursday, February 29th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $36.10.

Viridian Therapeutics Price Performance

VRDN opened at $14.90 on Thursday. The company has a quick ratio of 18.26, a current ratio of 18.26 and a debt-to-equity ratio of 0.09. The company’s 50-day moving average price is $16.57 and its 200 day moving average price is $17.66. Viridian Therapeutics has a fifty-two week low of $10.93 and a fifty-two week high of $28.35. The firm has a market cap of $950.92 million, a price-to-earnings ratio of -2.80 and a beta of 1.14.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.98) by ($0.37). The company had revenue of $0.07 million during the quarter, compared to the consensus estimate of $0.15 million. Viridian Therapeutics had a negative return on equity of 121.80% and a negative net margin of 75,711.48%. The company’s revenue for the quarter was down 31.4% on a year-over-year basis. During the same period last year, the business posted ($1.13) EPS. As a group, sell-side analysts expect that Viridian Therapeutics will post -4.39 earnings per share for the current year.

Hedge Funds Weigh In On Viridian Therapeutics

Several hedge funds have recently modified their holdings of VRDN. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Viridian Therapeutics by 122.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,369 shares of the company’s stock worth $182,000 after purchasing an additional 4,610 shares during the last quarter. Arizona State Retirement System bought a new stake in Viridian Therapeutics during the fourth quarter worth approximately $208,000. Principal Financial Group Inc. boosted its holdings in Viridian Therapeutics by 9.7% during the first quarter. Principal Financial Group Inc. now owns 11,915 shares of the company’s stock worth $209,000 after buying an additional 1,058 shares in the last quarter. Raymond James & Associates grew its position in Viridian Therapeutics by 71.1% in the third quarter. Raymond James & Associates now owns 15,164 shares of the company’s stock worth $233,000 after buying an additional 6,303 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new position in shares of Viridian Therapeutics in the third quarter valued at $264,000.

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.