Viridian Therapeutics, Inc. (NASDAQ:VRDN) Given Consensus Rating of “Moderate Buy” by Analysts

Viridian Therapeutics, Inc. (NASDAQ:VRDN) has been assigned a consensus rating of “Moderate Buy” from the eleven ratings firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $31.20.

A number of equities research analysts recently issued reports on the company. Wedbush reiterated an “outperform” rating and issued a $42.00 price objective on shares of Viridian Therapeutics in a research report on Monday, July 29th. B. Riley downgraded Viridian Therapeutics from a “buy” rating to a “neutral” rating and lowered their price target for the company from $25.00 to $20.00 in a research report on Thursday, May 9th. Wolfe Research began coverage on Viridian Therapeutics in a research report on Tuesday, June 11th. They set an “outperform” rating and a $29.00 price target on the stock. The Goldman Sachs Group began coverage on Viridian Therapeutics in a research report on Thursday, June 6th. They set a “buy” rating and a $23.00 price target on the stock. Finally, Oppenheimer restated an “outperform” rating and set a $28.00 price target (down previously from $31.00) on shares of Viridian Therapeutics in a research report on Monday.

Viridian Therapeutics Trading Down 3.9 %

Shares of VRDN stock opened at $14.70 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 23.99 and a current ratio of 23.99. Viridian Therapeutics has a 52-week low of $10.93 and a 52-week high of $24.18. The company has a market capitalization of $939.18 million, a PE ratio of -3.27 and a beta of 1.13. The business’s fifty day moving average is $13.88 and its 200 day moving average is $15.48.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.15). Viridian Therapeutics had a negative return on equity of 89.20% and a negative net margin of 79,185.77%. The business had revenue of $0.07 million during the quarter, compared to analysts’ expectations of $0.09 million. On average, equities research analysts anticipate that Viridian Therapeutics will post -3.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Viridian Therapeutics by 7.8% in the first quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company’s stock worth $56,632,000 after buying an additional 233,331 shares during the period. Perceptive Advisors LLC increased its holdings in shares of Viridian Therapeutics by 71.1% in the fourth quarter. Perceptive Advisors LLC now owns 1,730,212 shares of the company’s stock worth $37,684,000 after buying an additional 719,007 shares during the period. Vestal Point Capital LP purchased a new position in shares of Viridian Therapeutics in the fourth quarter worth about $21,780,000. Candriam S.C.A. increased its holdings in shares of Viridian Therapeutics by 167.8% in the second quarter. Candriam S.C.A. now owns 749,804 shares of the company’s stock worth $9,754,000 after buying an additional 469,804 shares during the period. Finally, RTW Investments LP purchased a new position in shares of Viridian Therapeutics in the fourth quarter worth about $13,195,000.

About Viridian Therapeutics

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.