Viridian Therapeutics (NASDAQ:VRDN) Now Covered by Analysts at Jefferies Financial Group

Key Points

• Analysts at Jefferies Financial Group initiated coverage of Viridian Therapeutics with a "buy" rating and a price target of $44.00, indicating a potential upside of 127.57% from its previous close.
• The consensus among analysts gives Viridian Therapeutics a rating of "Moderate Buy" with an average price target of $37.78, though other brokerages have set varying price targets, reflecting differing outlooks on the stock.
• Viridian Therapeutics reported a negative EPS of ($1.00) for the last quarter, matching analysts' expectations, with a revenue of $0.08 million, signifying a year-over-year revenue increase of 4.2%.

Analysts at Jefferies Financial Group started coverage on shares of Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) in a research report issued to clients and investors on Monday. The firm set a "buy" rating and a $44.00 price target on the stock. Jefferies Financial Group's target price would suggest a potential upside of 127.57% from the company's previous close.

A number of other brokerages also recently commented on VRDN. JMP Securities dropped 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 note on Wednesday, May 7th. Wells Fargo & Company lowered their price target on shares of Viridian Therapeutics from $27.00 to $26.00 and set an "equal weight" rating for the company in a research report on Thursday, August 7th. Needham & Company LLC lowered their price target on shares of Viridian Therapeutics from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Oppenheimer upped their price target on shares of Viridian Therapeutics from $28.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, The Goldman Sachs Group upped their price target on shares of Viridian Therapeutics from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Viridian Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $37.78.

Viridian Therapeutics Trading Up 0.5%

NASDAQ:VRDN traded up $0.1050 during mid-day trading on Monday, hitting $19.3350. 25,154 shares of the stock traded hands, compared to its average volume of 896,204. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of -5.05 and a beta of 0.42. Viridian Therapeutics has a 52 week low of $9.90 and a 52 week high of $27.20. The firm's 50 day moving average is $16.60 and its two-hundred day moving average is $15.09. The company has a quick ratio of 11.01, a current ratio of 11.01 and a debt-to-equity ratio of 0.04.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($1.00) EPS for the quarter, hitting analysts' consensus estimates of ($1.00). The business had revenue of $0.08 million for the quarter, compared to the consensus estimate 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 company's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.81) EPS. On average, equities research analysts predict that Viridian Therapeutics will post -4.03 earnings per share for the current year.

Institutional Trading of Viridian Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in VRDN. Price T Rowe Associates Inc. MD increased its stake in shares of Viridian Therapeutics by 2,847.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,326,811 shares of the company's stock worth $25,436,000 after acquiring an additional 1,281,799 shares during the period. Commodore Capital LP increased its stake in shares of Viridian Therapeutics by 35.4% in the second quarter. Commodore Capital LP now owns 4,875,000 shares of the company's stock worth $68,152,000 after acquiring an additional 1,275,000 shares during the period. Deep Track Capital LP increased its stake in shares of Viridian Therapeutics by 20.6% in the fourth quarter. Deep Track Capital LP now owns 4,522,741 shares of the company's stock worth $86,701,000 after acquiring an additional 771,796 shares during the period. Parkman Healthcare Partners LLC increased its stake in shares of Viridian Therapeutics by 155.9% in the fourth quarter. Parkman Healthcare Partners LLC now owns 1,087,634 shares of the company's stock worth $20,850,000 after acquiring an additional 662,634 shares during the period. Finally, Nuveen Asset Management LLC increased its stake in shares of Viridian Therapeutics by 198.2% in the fourth quarter. Nuveen Asset Management LLC now owns 681,012 shares of the company's stock worth $13,055,000 after acquiring an additional 452,627 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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