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 an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and ten 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 $40.5455.

Several brokerages recently issued reports on VRDN. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viridian Therapeutics in a report on Wednesday, October 8th. Wells Fargo & Company lowered their target price on Viridian Therapeutics from $27.00 to $26.00 and set an “equal weight” rating for the company in a research note on Thursday, August 7th. The Goldman Sachs Group reissued a “buy” rating and set a $40.00 price target on shares of Viridian Therapeutics in a research report on Thursday, November 6th. Oppenheimer upped their price target on Viridian Therapeutics from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Finally, Wall Street Zen upgraded shares of Viridian Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th.

View Our Latest Analysis on Viridian Therapeutics

Viridian Therapeutics Trading Up 2.9%

NASDAQ VRDN opened at $31.30 on Thursday. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of -10.36 and a beta of 0.87. The company has a debt-to-equity ratio of 0.07, a quick ratio of 11.28 and a current ratio of 11.28. Viridian Therapeutics has a one year low of $9.90 and a one year high of $32.54. The company’s 50 day moving average price is $25.20 and its 200 day moving average price is $19.68.

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

Insider Buying and Selling

In other news, Director Fairmount Funds Management Llc acquired 454,545 shares of the firm’s stock in a transaction on Thursday, October 23rd. The stock was bought at an average cost of $22.00 per share, with a total value of $9,999,990.00. Following the transaction, the director directly owned 3,914,458 shares in the company, valued at approximately $86,118,076. This represents a 13.14% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.58% of the stock is owned by corporate insiders.

Institutional Trading of Viridian Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Commodore Capital LP boosted its holdings in Viridian Therapeutics by 35.4% in the second 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 last quarter. Wellington Management Group LLP raised its position in shares of Viridian Therapeutics by 314.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,122,532 shares of the company’s stock valued at $24,224,000 after purchasing an additional 851,989 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Viridian Therapeutics by 135.6% during the 3rd 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 last quarter. Rice Hall James & Associates LLC grew its position in shares of Viridian Therapeutics by 65.2% during 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. increased its stake 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 during the last quarter.

Viridian Therapeutics Company Profile

(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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