Viridian Therapeutics, Inc. (NASDAQ:VRDN) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Viridian Therapeutics, Inc. (NASDAQ:VRDN) has been given a consensus rating of "Moderate Buy" by analysts, with eight out of ten brokerages recommending the stock as a buy.
• The average twelve-month target price for Viridian's shares is $34.8750, although some analysts like Needham & Company have revised their estimates down to $34.00.
• For the latest quarter, Viridian reported earnings per share of ($1.00), in line with expectations, and a revenue of $0.08 million, slightly exceeding the forecast.

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report) have been assigned an average rating of "Moderate Buy" from the ten brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $34.8750.

A number of equities research analysts have recently weighed in on VRDN shares. Needham & Company LLC reduced their price objective on shares of Viridian Therapeutics from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Oppenheimer raised their price target on Viridian Therapeutics from $28.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. The Goldman Sachs Group raised their target price on Viridian Therapeutics from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Royal Bank Of Canada cut their target price 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. Finally, Wells Fargo & Company cut their price objective on shares of Viridian Therapeutics from $27.00 to $26.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th.

Viridian Therapeutics Price Performance

VRDN stock opened at $20.78 on Wednesday. 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 $1.70 billion, a P/E ratio of -5.43 and a beta of 0.49. The business's 50-day moving average is $19.30 and its two-hundred day moving average is $16.11. Viridian Therapeutics has a 1 year low of $9.90 and a 1 year high of $27.20.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($1.00) earnings per share for the quarter, meeting the consensus estimate of ($1.00). The firm had revenue of $0.08 million for the quarter, compared to analysts' expectations of $0.05 million. Viridian Therapeutics had a negative net margin of 112,806.88% and a negative return on equity of 78.95%. The firm's revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.81) earnings per share. Analysts anticipate that Viridian Therapeutics will post -4.03 earnings per share for the current fiscal year.

Institutional Trading of Viridian Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in VRDN. Amalgamated Bank lifted its stake in Viridian Therapeutics by 49.7% in the first quarter. Amalgamated Bank now owns 2,531 shares of the company's stock valued at $34,000 after buying an additional 840 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Viridian Therapeutics by 1.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company's stock valued at $669,000 after acquiring an additional 876 shares during the period. SG Americas Securities LLC increased its holdings in shares of Viridian Therapeutics by 2.9% in the 1st quarter. SG Americas Securities LLC now owns 31,972 shares of the company's stock valued at $431,000 after acquiring an additional 887 shares during the period. Swiss National Bank increased its holdings in shares of Viridian Therapeutics by 1.3% in the 2nd quarter. Swiss National Bank now owns 108,900 shares of the company's stock valued at $1,522,000 after acquiring an additional 1,400 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in shares of Viridian Therapeutics by 332.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,940 shares of the company's stock valued at $42,000 after acquiring an additional 1,491 shares during the period.

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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