Viridian Therapeutics (NASDAQ:VRDN) Price Target Cut to $33.00 by Analysts at Truist Financial

Key Points

• Truist Financial cut its price target for Viridian Therapeutics from $36 to $33 but kept a "buy" rating, implying roughly a 125% upside from the current share price.
• Several other firms have also lowered targets recently, yet the consensus remains a "Moderate Buy" with an average price target of $37.07 and 13 of 15 analysts rating the stock as Buy.
• Fundamentals show risk: shares trade around $14.64, Viridian badly missed quarterly EPS and revenue expectations and remains unprofitable with a negative EPS outlook for the year.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) had its target price dropped by Truist Financial from $36.00 to $33.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Truist Financial's price objective points to a potential upside of 125.49% from the stock's current price.

VRDN has been the subject of a number of other research reports. Evercore restated an "outperform" rating and set a $44.00 price objective on shares of Viridian Therapeutics in a research report on Tuesday, January 20th. Wedbush decreased their price target on Viridian Therapeutics from $37.00 to $31.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 8th. HC Wainwright dropped their price objective on Viridian Therapeutics from $34.00 to $22.00 and set a "buy" rating on the stock in a report on Tuesday, March 31st. Needham & Company LLC decreased their target price on shares of Viridian Therapeutics from $42.00 to $32.00 and set a "buy" rating on the stock in a research report on Monday, March 30th. Finally, Royal Bank Of Canada cut their price target on Viridian Therapeutics from $42.00 to $30.00 and set an "outperform" rating for the company in a research note on Tuesday, April 7th. Thirteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $37.07.

Viridian Therapeutics Trading Down 0.3%

VRDN opened at $14.64 on Tuesday. The company has a quick ratio of 12.65, a current ratio of 12.65 and a debt-to-equity ratio of 0.08. Viridian Therapeutics has a 52 week low of $11.76 and a 52 week high of $34.29. The business's 50 day moving average is $24.58 and its two-hundred day moving average is $27.47. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -4.47 and a beta of 1.16.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last announced its earnings results on Thursday, February 26th. The company reported ($1.08) EPS for the quarter, missing analysts' consensus estimates of ($0.90) by ($0.18). The business had revenue of $0.13 million during the quarter, compared to analyst estimates of $15.75 million. Viridian Therapeutics had a negative net margin of 483.57% and a negative return on equity of 83.25%. On average, research analysts predict that Viridian Therapeutics will post -3.61 EPS for the current year.

Hedge Funds Weigh In On Viridian Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of VRDN. Aster Capital Management DIFC Ltd acquired a new position in Viridian Therapeutics in the third quarter valued at $35,000. ANTIPODES PARTNERS Ltd acquired a new stake in Viridian Therapeutics during the 4th quarter worth approximately $36,000. Farther Finance Advisors LLC lifted its position in Viridian Therapeutics by 332.1% during the third quarter. Farther Finance Advisors LLC now owns 1,940 shares of the company's stock valued at $42,000 after buying an additional 1,491 shares in the last quarter. Bessemer Group Inc. grew its stake in Viridian Therapeutics by 947.7% during the third quarter. Bessemer Group Inc. now owns 2,085 shares of the company's stock worth $45,000 after buying an additional 1,886 shares during the period. Finally, Larson Financial Group LLC acquired a new stake in shares of Viridian Therapeutics in the third quarter worth $52,000.

About Viridian Therapeutics

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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