The Goldman Sachs Group Issues Positive Forecast for Viridian Therapeutics (NASDAQ:VRDN) Stock Price

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 - Get Free Report) had its price objective hoisted by stock analysts at The Goldman Sachs Group from $27.00 to $30.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. The Goldman Sachs Group's price target suggests a potential upside of 81.24% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the company. 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. Oppenheimer boosted their target price on Viridian Therapeutics from $28.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday. HC Wainwright reiterated a "buy" rating and set a $34.00 price target on shares of Viridian Therapeutics in a research note on Wednesday, April 23rd. Needham & Company LLC lowered their price objective on Viridian Therapeutics from $36.00 to $34.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, Wells Fargo & Company dropped their price objective on Viridian Therapeutics from $27.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $37.00.

Viridian Therapeutics Trading Down 3.8%

Viridian Therapeutics stock traded down $0.65 during trading hours on Thursday, reaching $16.55. The stock had a trading volume of 599,269 shares, compared to its average volume of 896,872. The company has a fifty day simple moving average of $15.84 and a 200-day simple moving average of $15.24. Viridian Therapeutics has a 52 week low of $9.90 and a 52 week high of $27.20. The company has a debt-to-equity ratio of 0.05, a current ratio of 19.49 and a quick ratio of 19.49. The stock has a market cap of $1.35 billion, a PE ratio of -4.30 and a beta of 0.42.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($1.00) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($1.00). Viridian Therapeutics had a negative net margin of 102,092.39% and a negative return on equity of 70.61%. The company had revenue of $0.08 million for the quarter, compared to the consensus estimate of $0.05 million. During the same quarter in the prior year, the firm earned ($0.81) earnings per share. Viridian Therapeutics's revenue was up 4.2% on a year-over-year basis. Analysts forecast that Viridian Therapeutics will post -4.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Viridian Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank lifted its stake in shares of Viridian Therapeutics by 49.7% in the 1st quarter. Amalgamated Bank now owns 2,531 shares of the company's stock valued at $34,000 after acquiring an additional 840 shares during the last quarter. Foresite Capital Management VI LLC bought a new stake in Viridian Therapeutics during the 4th quarter valued at $38,000. GAMMA Investing LLC increased its stake in Viridian Therapeutics by 3,892.9% in the first quarter. GAMMA Investing LLC now owns 8,425 shares of the company's stock valued at $114,000 after acquiring an additional 8,214 shares during the last quarter. Summit Investment Advisors Inc. grew its stake in shares of Viridian Therapeutics by 24.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,646 shares of the company's stock valued at $147,000 after buying an additional 1,516 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Viridian Therapeutics in the second quarter worth about $170,000.

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.

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