Viridian Therapeutics (NASDAQ:VRDN) Price Target Raised to $30.00

Key Points

• The Goldman Sachs Group has raised its price target for Viridian Therapeutics (NASDAQ:VRDN) from $27.00 to $30.00, indicating a potential upside of 81.24% from the stock's previous close.
• Viridian Therapeutics' stock is currently rated as a "Moderate Buy" with an average consensus target price of $37.00, reflecting strong analyst interest despite some recent price target cuts by other firms.
• Viridian reported a revenue increase of 4.2% year-over-year, with an EPS in line with expectations at ($1.00), indicating stability in financial performance amidst ongoing challenges.

Viridian Therapeutics (NASDAQ:VRDN - Free Report) had its price target raised by The Goldman Sachs Group from $27.00 to $30.00 in a research note published on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

VRDN has been the topic of several other research reports. JMP Securities lowered their price objective on Viridian Therapeutics from $42.00 to $38.00 and set a "market outperform" rating on the stock in a research report on Wednesday, May 7th. Needham & Company LLC lowered their price objective on Viridian Therapeutics from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. 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 report on Thursday. HC Wainwright reaffirmed a "buy" rating and set a $34.00 target price on shares of Viridian Therapeutics in a research report on Wednesday, April 23rd. Finally, Royal Bank Of Canada cut their price target on Viridian Therapeutics from $45.00 to $41.00 and set an "outperform" rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $37.00.

Viridian Therapeutics Price Performance

Shares of Viridian Therapeutics stock traded up $0.48 during trading on Thursday, reaching $16.89. The company's stock had a trading volume of 758,148 shares, compared to its average volume of 722,482. The stock has a market capitalization of $1.38 billion, a P/E ratio of -4.41 and a beta of 0.42. Viridian Therapeutics has a one year low of $9.90 and a one year high of $27.20. The company has a current ratio of 11.01, a quick ratio of 11.01 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average price of $16.00 and a two-hundred day moving average price of $15.16.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($1.00) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($1.00). Viridian Therapeutics had a negative return on equity of 78.95% and a negative net margin of 112,806.88%. The company had revenue of $0.08 million during the quarter, compared to analyst estimates of $0.05 million. During the same period in the previous year, the company earned ($0.81) EPS. The company's revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Viridian Therapeutics will post -4.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Viridian Therapeutics

A number of large investors have recently made changes to their positions in VRDN. Vanguard Group Inc. increased its position in shares of Viridian Therapeutics by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 4,595,049 shares of the company's stock valued at $88,087,000 after acquiring an additional 174,952 shares during the period. Geode Capital Management LLC increased its position in shares of Viridian Therapeutics by 11.1% in the 4th quarter. Geode Capital Management LLC now owns 1,658,980 shares of the company's stock valued at $31,809,000 after acquiring an additional 165,669 shares during the period. ExodusPoint Capital Management LP acquired a new position in shares of Viridian Therapeutics in the 4th quarter valued at $493,000. FMR LLC boosted its holdings in Viridian Therapeutics by 6.2% in the fourth quarter. FMR LLC now owns 11,881,912 shares of the company's stock valued at $227,776,000 after purchasing an additional 698,434 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Viridian Therapeutics by 59.5% in the fourth quarter. Invesco Ltd. now owns 33,099 shares of the company's stock valued at $635,000 after purchasing an additional 12,350 shares during 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.