Viridian Therapeutics, Inc. (NASDAQ:VRDN) Stock Now Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analyst sentiment is moderately bullish: 12 of 13 analysts rate Viridian Therapeutics a buy, while one rates it a sell. The consensus 12-month price target is $38.69 versus the stock’s recent $20.00 price.
• Several firms recently raised their targets, including Wedbush to $43, Goldman Sachs to $39, and RBC to $38; Wells Fargo also upgraded the stock to overweight with a $31 target.
• Viridian remains an unprofitable clinical-stage biotechnology company: it reported a quarterly loss of $1.05 per share versus the $1.03 expected, although revenue of $0.28 million exceeded estimates.

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report) have earned a consensus rating of "Moderate Buy" from the thirteen analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and twelve have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $38.69.

VRDN has been the subject of a number of analyst reports. Royal Bank Of Canada increased their target price on shares of Viridian Therapeutics from $36.00 to $38.00 and gave the company an "outperform" rating in a research report on Tuesday, September 22nd. Wall Street Zen raised Viridian Therapeutics from a "strong sell" rating to a "sell" rating in a research report on Saturday. Wells Fargo & Company upgraded Viridian Therapeutics from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $20.00 to $31.00 in a report on Monday, June 29th. Wedbush raised their price objective on Viridian Therapeutics from $32.00 to $43.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 30th. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $39.00 price objective on shares of Viridian Therapeutics in a research report on Tuesday, June 30th.

Insiders Place Their Bets

In other Viridian Therapeutics news, insider Jennifer Tousignant sold 14,212 shares of the firm's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $24.50, for a total value of $348,194.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.40% of the company's stock.

Hedge Funds Weigh In On Viridian Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC acquired a new position in shares of Viridian Therapeutics in the 2nd quarter valued at about $33,000. KBC Group NV acquired a new stake in Viridian Therapeutics during the first quarter worth about $34,000. State of Wyoming acquired a new stake in Viridian Therapeutics during the second quarter worth about $43,000. Man Group plc purchased a new position in Viridian Therapeutics during the second quarter valued at approximately $197,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Viridian Therapeutics during the second quarter valued at approximately $204,000.

Viridian Therapeutics Price Performance

VRDN opened at $20.00 on Wednesday. The firm has a market capitalization of $2.27 billion, a PE ratio of -5.93 and a beta of 0.97. The company has a debt-to-equity ratio of 0.43, a current ratio of 16.95 and a quick ratio of 16.95. The business's 50-day moving average is $22.01 and its two-hundred day moving average is $19.62. Viridian Therapeutics has a 1 year low of $13.18 and a 1 year high of $34.29.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($1.03) by ($0.02). Viridian Therapeutics had a negative net margin of 505.86% and a negative return on equity of 72.97%. The firm had revenue of $0.28 million for the quarter, compared to analysts' expectations of $0.06 million. Research analysts anticipate that Viridian Therapeutics will post -4.07 earnings per share for the current fiscal year.

About Viridian Therapeutics

Viridian Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious diseases involving the immune system. The company's primary focus is thyroid eye disease (TED), an autoimmune disorder that can cause inflammation, pain, swelling and vision-related complications.

Viridian's lead programs target the insulin-like growth factor 1 receptor (IGF-1R), a pathway associated with TED. Its pipeline has included investigational therapies such as veligrotug (VRDN-001), an intravenous antibody designed to block IGF-1R, and subcutaneous formulations intended to provide more convenient administration.

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