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

Viridian Therapeutics, Inc. (NASDAQ:VRDN) has earned an average rating of “Moderate Buy” from the eleven ratings firms that are covering the company, MarketBeat Ratings reports. Two investment 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 analysts that have issued ratings on the stock in the last year is $31.20.

Several research firms recently issued reports on VRDN. Wedbush reissued an “outperform” rating and set a $42.00 target price on shares of Viridian Therapeutics in a research note on Monday, July 29th. The Goldman Sachs Group assumed coverage on shares of Viridian Therapeutics in a research report on Thursday, June 6th. They set a “buy” rating and a $23.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 price objective on shares of Viridian Therapeutics in a report on Wednesday, August 28th. HC Wainwright reiterated a “buy” rating and set a $27.00 target price on shares of Viridian Therapeutics in a report on Thursday, August 15th. Finally, Wolfe Research began coverage on shares of Viridian Therapeutics in a research note on Tuesday, June 11th. They issued an “outperform” rating and a $29.00 price target for the company.

Viridian Therapeutics Price Performance

Viridian Therapeutics stock opened at $14.09 on Friday. The company’s 50 day simple moving average is $14.73 and its 200-day simple moving average is $15.01. The company has a debt-to-equity ratio of 0.05, a quick ratio of 15.82 and a current ratio of 15.82. Viridian Therapeutics has a 1 year low of $10.93 and a 1 year high of $24.18. The company has a market capitalization of $900.21 million, a price-to-earnings ratio of -3.13 and a beta of 1.03.

Viridian Therapeutics (NASDAQ:VRDN) last announced its earnings results 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 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. As a group, equities research analysts expect that Viridian Therapeutics will post -3.97 earnings per share for the current year.

Hedge Funds Weigh In On Viridian Therapeutics

Several large investors have recently bought and sold shares of VRDN. Novo Holdings A S boosted its position in shares of Viridian Therapeutics by 81.8% during the 2nd quarter. Novo Holdings A S now owns 2,000,000 shares of the company’s stock worth $26,020,000 after acquiring an additional 900,000 shares in the last quarter. Algert Global LLC lifted its stake in Viridian Therapeutics by 46.7% during the second quarter. Algert Global LLC now owns 55,493 shares of the company’s stock worth $722,000 after purchasing an additional 17,673 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Viridian Therapeutics by 30.7% in the second quarter. The Manufacturers Life Insurance Company now owns 31,687 shares of the company’s stock valued at $412,000 after purchasing an additional 7,450 shares in the last quarter. Millennium Management LLC increased its stake in Viridian Therapeutics by 1,014.7% in the second quarter. Millennium Management LLC now owns 228,182 shares of the company’s stock valued at $2,969,000 after purchasing an additional 207,711 shares during the last quarter. Finally, Maverick Capital Ltd. raised its holdings in Viridian Therapeutics by 22.9% during the second quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock worth $43,036,000 after purchasing an additional 615,531 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.