Viridian Therapeutics (NASDAQ:VRDN) Price Target Raised to $47.00 at Royal Bank of Canada

Viridian Therapeutics (NASDAQ:VRDN) had its price target lifted by stock analysts at Royal Bank of Canada from $44.00 to $47.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 132.44% from the stock’s current price.

A number of other research firms have also commented on VRDN. Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 price target on shares of Viridian Therapeutics in a research report on Monday, November 25th. BTIG Research raised 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. The Goldman Sachs Group boosted their price objective on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. HC Wainwright reiterated a “buy” rating and set a $34.00 target price on shares of Viridian Therapeutics in a research note on Monday. Finally, TD Cowen began coverage on Viridian Therapeutics in a report on Monday, November 25th. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.67.

Viridian Therapeutics Price Performance

Shares of VRDN stock traded down $1.32 during trading on Tuesday, hitting $20.22. The company had a trading volume of 328,674 shares, compared to its average volume of 1,142,479. Viridian Therapeutics has a 52 week low of $11.40 and a 52 week high of $27.20. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -4.69 and a beta of 1.04. The company has a quick ratio of 18.55, a current ratio of 18.55 and a debt-to-equity ratio of 0.04. The stock’s 50-day moving average is $22.00 and its two-hundred day moving average is $17.99.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). The business had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.08 million. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. As a group, analysts predict that Viridian Therapeutics will post -4.03 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Thomas W. Beetham bought 5,000 shares of the company’s stock in a transaction on Friday, September 27th. The shares were acquired at an average cost of $23.41 per share, for a total transaction of $117,050.00. Following the purchase, the chief operating officer now directly owns 6,000 shares of the company’s stock, valued at approximately $140,460. The trade was a 500.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen F. Mahoney bought 21,400 shares of the stock in a transaction on Friday, September 27th. The stock was purchased at an average price of $23.33 per share, with a total value of $499,262.00. Following the completion of the acquisition, the chief executive officer now directly owns 21,400 shares in the company, valued at approximately $499,262. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.65% of the stock is owned by insiders.

Hedge Funds Weigh In On Viridian Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in VRDN. FMR LLC grew its position in shares of Viridian Therapeutics by 16.8% in the 3rd quarter. FMR LLC now owns 11,183,478 shares of the company’s stock worth $254,424,000 after buying an additional 1,610,130 shares during the last quarter. Novo Holdings A S grew its holdings in Viridian Therapeutics by 81.8% in the second quarter. Novo Holdings A S now owns 2,000,000 shares of the company’s stock worth $26,020,000 after purchasing an additional 900,000 shares during the last quarter. Maverick Capital Ltd. increased its position in shares of 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. Candriam S.C.A. lifted its holdings in shares of Viridian Therapeutics by 167.8% during the 2nd quarter. Candriam S.C.A. now owns 749,804 shares of the company’s stock valued at $9,754,000 after purchasing an additional 469,804 shares during the last quarter. Finally, Parkman Healthcare Partners LLC acquired a new stake in Viridian Therapeutics in the third quarter worth about $9,669,000.

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.