Viridian Therapeutics, Inc. (NASDAQ:VRDN) Receives $37.00 Average Target Price from Analysts

Key Points

• Viridian Therapeutics, Inc. has an average rating of "Moderate Buy" from analysts, with one hold and eight buy ratings; the average 1-year price objective is $37.00.
• Recent hedge fund activity shows that several institutional investors, including Amalgamated Bank and MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd., have increased their positions in the company.
• As of the latest trading session, shares of Viridian Therapeutics are down 1.6%, with a current price of $17.52 and a market capitalization of $1.43 billion.

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the nine ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $37.00.

A number of research analysts have commented on VRDN shares. JMP Securities cut their target price on shares of 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. HC Wainwright reissued a "buy" rating and set a $34.00 target price on shares of Viridian Therapeutics in a research report on Wednesday, April 23rd. Needham & Company LLC reissued a "buy" rating and set a $36.00 target price on shares of Viridian Therapeutics in a research report on Tuesday, May 20th. The Goldman Sachs Group cut their price objective on shares of Viridian Therapeutics from $31.00 to $27.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Finally, Royal Bank Of Canada cut their price objective on shares of Viridian Therapeutics from $46.00 to $45.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th.

Hedge Funds Weigh In On Viridian Therapeutics

Several institutional investors have recently bought and sold shares of VRDN. FMR LLC boosted its position in shares of Viridian Therapeutics by 6.2% in the 4th quarter. FMR LLC now owns 11,881,912 shares of the company's stock worth $227,776,000 after buying an additional 698,434 shares in the last quarter. Vanguard Group Inc. lifted its holdings in 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 purchasing an additional 174,952 shares in the last quarter. Deep Track Capital LP lifted its holdings in Viridian Therapeutics by 20.6% in the 4th quarter. Deep Track Capital LP now owns 4,522,741 shares of the company's stock valued at $86,701,000 after purchasing an additional 771,796 shares in the last quarter. Tang Capital Management LLC increased its stake in shares of Viridian Therapeutics by 11.1% during the 4th quarter. Tang Capital Management LLC now owns 2,492,925 shares of the company's stock valued at $47,789,000 after acquiring an additional 250,000 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of Viridian Therapeutics by 3.8% during the 4th quarter. Alliancebernstein L.P. now owns 2,286,994 shares of the company's stock valued at $43,842,000 after acquiring an additional 84,255 shares during the last quarter.

Viridian Therapeutics Stock Performance

VRDN traded up $0.63 during trading on Friday, hitting $17.49. The company's stock had a trading volume of 442,961 shares, compared to its average volume of 892,399. The company has a quick ratio of 19.49, a current ratio of 19.49 and a debt-to-equity ratio of 0.05. Viridian Therapeutics has a one year low of $9.90 and a one year high of $27.20. The firm has a market cap of $1.43 billion, a PE ratio of -4.54 and a beta of 0.42. The business's 50 day simple moving average is $15.70 and its 200-day simple moving average is $15.21.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.87) earnings per share for the quarter, beating the consensus estimate of ($0.95) by $0.08. The company had revenue of $0.07 million during the quarter, compared to analysts' expectations of $0.16 million. Viridian Therapeutics had a negative net margin of 102,092.39% and a negative return on equity of 70.61%. The firm's revenue was up .0% compared to the same quarter last year. As a group, sell-side analysts predict that Viridian Therapeutics will post -4.03 EPS for the current fiscal year.

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.