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

by · The Cerbat Gem

Viridian Therapeutics, Inc. (NASDAQ:VRDN – Get Free Report) has been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $35.80.

VRDN has been the topic of several analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $44.00 price objective on shares of Viridian Therapeutics in a report on Thursday, September 19th. Wedbush reaffirmed an “outperform” rating and issued a $42.00 price target on shares of Viridian Therapeutics in a report on Monday, July 29th. Oppenheimer reissued an “outperform” rating and set a $28.00 price objective (down from $31.00) on shares of Viridian Therapeutics in a report on Monday, August 12th. BTIG Research upped their target price on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, The Goldman Sachs Group lifted their price target on Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th.

Read Our Latest Report on VRDN

Insider Activity at Viridian Therapeutics

In related news, Director Fairmount Funds Management Llc bought 1,600,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were bought at an average cost of $18.75 per share, for a total transaction of $30,000,000.00. Following the completion of the purchase, the director now owns 3,445,813 shares of the company’s stock, valued at $64,608,993.75. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Viridian Therapeutics news, CEO Stephen F. Mahoney bought 21,400 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were purchased at an average cost of $23.33 per share, for a total transaction of $499,262.00. Following the transaction, the chief executive officer now directly owns 21,400 shares in the company, valued at $499,262. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Fairmount Funds Management Llc purchased 1,600,000 shares of Viridian Therapeutics stock in a transaction on Friday, September 13th. The shares were acquired at an average price of $18.75 per share, with a total value of $30,000,000.00. Following the transaction, the director now directly owns 3,445,813 shares in the company, valued at $64,608,993.75. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 1,626,400 shares of company stock worth $30,616,312 in the last 90 days. 0.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Viridian Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. raised its position in shares of Viridian Therapeutics by 19.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock worth $87,000 after buying an additional 799 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Viridian Therapeutics by 9.7% during the 1st quarter. Principal Financial Group Inc. now owns 11,915 shares of the company’s stock valued at $209,000 after purchasing an additional 1,058 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Viridian Therapeutics by 4.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,822 shares of the company’s stock valued at $505,000 after purchasing an additional 1,135 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Viridian Therapeutics by 14.7% in the 2nd quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock worth $171,000 after buying an additional 1,688 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Viridian Therapeutics by 24.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock valued at $156,000 after buying an additional 2,359 shares during the period.

Viridian Therapeutics Trading Down 1.3 %

VRDN opened at $23.05 on Monday. The firm has a market capitalization of $1.47 billion, a P/E ratio of -5.12 and a beta of 1.08. The firm’s 50 day moving average is $20.22 and its 200-day moving average is $16.11. The company has a quick ratio of 15.82, a current ratio of 15.82 and a debt-to-equity ratio of 0.05. Viridian Therapeutics has a 52-week low of $11.01 and a 52-week high of $25.39.

Viridian Therapeutics (NASDAQ:VRDN – Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $0.07 million during the quarter, compared to analysts’ expectations of $0.09 million. Analysts expect that Viridian Therapeutics will post -3.94 EPS for the current fiscal year.

About Viridian Therapeutics

(Get Free Report

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.

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