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

Key Points

• Analyst sentiment is moderately bullish: Fourteen brokerages give Viridian Therapeutics a consensus “Moderate Buy” rating, with 13 buy ratings and one sell rating. The average 12-month price target is $38.93 versus a recent share price of $23.06.
• Quarterly results fell slightly short of expectations: Viridian reported a loss of $1.05 per share, missing the $1.03 consensus estimate, while revenue of $0.28 million exceeded expectations. Analysts project a full-year loss of $4.02 per share.
• Institutional ownership has increased: Major investors including Perceptive Advisors and Vanguard expanded their positions, while Jennison Associates and Avoro Capital initiated new stakes during the fourth quarter.

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report) have been given an average recommendation of "Moderate Buy" by the fourteen brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and thirteen have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $38.9286.

VRDN has been the subject of a number of research reports. Needham & Company LLC reissued a "buy" rating and issued a $32.00 price target on shares of Viridian Therapeutics in a research note on Monday, June 29th. Evercore set a $26.00 price objective on shares of Viridian Therapeutics in a research report on Friday, May 15th. Royal Bank Of Canada lifted their price objective on shares of Viridian Therapeutics from $35.00 to $36.00 and gave the stock an "outperform" rating in a report on Friday. Wall Street Zen lowered shares of Viridian Therapeutics from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 1st. Finally, Weiss Ratings cut Viridian Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, June 30th.

Viridian Therapeutics Stock Performance

Shares of VRDN opened at $23.06 on Tuesday. Viridian Therapeutics has a 12-month low of $13.18 and a 12-month high of $34.29. The company has a current ratio of 15.15, a quick ratio of 15.15 and a debt-to-equity ratio of 0.10. The company has a market cap of $2.61 billion, a PE ratio of -6.84 and a beta of 0.91. The stock has a 50-day moving average price of $18.51 and a 200-day moving average price of $21.52.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.02). The company had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.06 million. Viridian Therapeutics had a negative return on equity of 76.65% and a negative net margin of 505.86%. As a group, equities analysts forecast that Viridian Therapeutics will post -4.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Viridian Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Perceptive Advisors LLC lifted its holdings in shares of Viridian Therapeutics by 108.1% in the 4th quarter. Perceptive Advisors LLC now owns 3,042,703 shares of the company's stock worth $94,689,000 after acquiring an additional 1,580,303 shares during the last quarter. Jennison Associates LLC bought a new position in shares of Viridian Therapeutics during the 4th quarter valued at $35,915,000. Avoro Capital Advisors LLC bought a new position in shares of Viridian Therapeutics during the 4th quarter valued at $46,680,000. Vanguard Group Inc. raised its position in Viridian Therapeutics by 29.6% in the 4th quarter. Vanguard Group Inc. now owns 5,612,144 shares of the company's stock worth $174,650,000 after purchasing an additional 1,280,161 shares during the period. Finally, Privium Fund Management B.V. purchased a new position in Viridian Therapeutics in the 4th quarter worth $5,400,000.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc NASDAQ: VRDN is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted antibody therapeutics for patients suffering from rare and serious diseases. The company's lead program, VRDN-001, is a fully human monoclonal antibody that antagonizes the insulin-like growth factor-1 receptor (IGF-1R), with an initial focus on thyroid eye disease (TED). By selectively inhibiting IGF-1R signaling, VRDN-001 aims to reduce inflammation and tissue remodeling associated with TED and related disorders.

In addition to VRDN-001, Viridian is advancing a second antibody program, VRDN-002, which targets complement-mediated pathways implicated in autoimmune and inflammatory diseases.

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