Viridian Therapeutics, Inc. (NASDAQ:VRDN) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Viridian Therapeutics has received an average recommendation of "Moderate Buy" from ten brokerages, with one hold and nine buy ratings.
• The company's 12-month price target averages $37.78, indicating optimism among analysts despite recent price adjustments from various firms.
• Viridian Therapeutics reported a revenue increase of 4.2% year-over-year, yet a negative EPS of ($1.00) for the latest quarter, aligning with analyst expectations.

Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report) has earned an average recommendation of "Moderate Buy" from the ten brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $37.7778.

A number of equities research analysts recently issued reports on VRDN shares. Royal Bank Of Canada lowered their price objective on Viridian Therapeutics from $45.00 to $41.00 and set an "outperform" rating on the stock in a research report on Thursday, August 7th. Jefferies Financial Group started coverage on Viridian Therapeutics in a research report on Monday. They issued a "buy" rating and a $44.00 price objective on the stock. Oppenheimer increased their price objective on Viridian Therapeutics from $28.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. 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 report on Wednesday, August 6th. Finally, The Goldman Sachs Group increased their price objective on Viridian Therapeutics from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th.

Institutional Investors Weigh In On Viridian Therapeutics

Large investors have recently added to or reduced their stakes in the company. Amalgamated Bank raised its position in Viridian Therapeutics by 49.7% during the first quarter. Amalgamated Bank now owns 2,531 shares of the company's stock valued at $34,000 after purchasing an additional 840 shares in the last quarter. Nuveen Asset Management LLC raised its position in Viridian Therapeutics by 198.2% during the fourth quarter. Nuveen Asset Management LLC now owns 681,012 shares of the company's stock valued at $13,055,000 after purchasing an additional 452,627 shares in the last quarter. Principal Financial Group Inc. raised its position in Viridian Therapeutics by 17.0% during the first quarter. Principal Financial Group Inc. now owns 208,836 shares of the company's stock valued at $2,815,000 after purchasing an additional 30,392 shares in the last quarter. Rhumbline Advisers raised its position in Viridian Therapeutics by 4.6% during the first quarter. Rhumbline Advisers now owns 104,559 shares of the company's stock valued at $1,409,000 after purchasing an additional 4,621 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Viridian Therapeutics by 29.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 115,782 shares of the company's stock valued at $2,220,000 after purchasing an additional 26,286 shares in the last quarter.

Viridian Therapeutics Price Performance

Viridian Therapeutics stock opened at $18.57 on Tuesday. Viridian Therapeutics has a one year low of $9.90 and a one year high of $27.20. The business has a fifty day moving average price of $16.65 and a 200-day moving average price of $15.10. The company has a debt-to-equity ratio of 0.04, a current ratio of 11.01 and a quick ratio of 11.01. The firm has a market capitalization of $1.52 billion, a P/E ratio of -4.85 and a beta of 0.42.

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

About Viridian Therapeutics

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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