Viridian Therapeutics (NASDAQ:VRDN) Price Target Lowered to $41.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has lowered its price target for Viridian Therapeutics from $45.00 to $41.00, still maintaining an "outperform" rating which implies a potential upside of 146.32% from the stock's previous close.
• Viridian Therapeutics' stock recently traded down 3.2% to $16.65, with a market capitalization of $1.36 billion and an average target price among analysts of $36.63.
• Several other analysts have also adjusted their price targets, with Goldman Sachs lowering theirs to $27.00, while Oppenheimer increased theirs to $32.00, reflecting varied outlooks on the company's performance.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) had its price objective cut by equities researchers at Royal Bank Of Canada from $45.00 to $41.00 in a report released on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's target price would suggest a potential upside of 146.32% from the stock's previous close.

Other research analysts also recently issued research reports about the company. The Goldman Sachs Group reduced their target price on Viridian Therapeutics from $31.00 to $27.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Wells Fargo & Company reduced their target price on Viridian Therapeutics from $27.00 to $26.00 and set an "equal weight" rating on the stock in a report on Thursday. JMP Securities reduced their target price on Viridian Therapeutics from $42.00 to $38.00 and set a "market outperform" rating on the stock in a report on Wednesday, May 7th. Needham & Company LLC reduced their target price on Viridian Therapeutics from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Oppenheimer increased their target price on Viridian Therapeutics from $28.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $36.63.

Viridian Therapeutics Trading Down 3.2%

Viridian Therapeutics stock traded down $0.56 during trading on Thursday, hitting $16.65. The company's stock had a trading volume of 326,651 shares, compared to its average volume of 895,171. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -4.32 and a beta of 0.42. The stock's fifty day moving average is $15.84 and its 200 day moving average is $15.24. Viridian Therapeutics has a 1-year low of $9.90 and a 1-year high of $27.20. The company has a debt-to-equity ratio of 0.05, a quick ratio of 19.49 and a current ratio of 19.49.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($1.00) earnings per share for the quarter, meeting analysts' consensus estimates of ($1.00). Viridian Therapeutics had a negative return on equity of 70.61% and a negative net margin of 102,092.39%. The firm had revenue of $0.08 million during the quarter, compared to analyst estimates of $0.05 million. During the same quarter last year, the firm earned ($0.81) EPS. Viridian Therapeutics's quarterly revenue was up 4.2% on a year-over-year basis. As a group, equities research analysts predict that Viridian Therapeutics will post -4.03 EPS for the current year.

Institutional Trading of Viridian Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank raised its stake in Viridian Therapeutics by 49.7% during the 1st quarter. Amalgamated Bank now owns 2,531 shares of the company's stock valued at $34,000 after acquiring an additional 840 shares in the last quarter. Nuveen Asset Management LLC raised its stake in Viridian Therapeutics by 198.2% during the 4th quarter. Nuveen Asset Management LLC now owns 681,012 shares of the company's stock valued at $13,055,000 after acquiring an additional 452,627 shares in the last quarter. Principal Financial Group Inc. raised its stake in Viridian Therapeutics by 17.0% during the 1st quarter. Principal Financial Group Inc. now owns 208,836 shares of the company's stock valued at $2,815,000 after acquiring an additional 30,392 shares in the last quarter. Vanguard Group Inc. raised its stake in Viridian Therapeutics by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 4,595,049 shares of the company's stock valued at $88,087,000 after acquiring an additional 174,952 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in Viridian Therapeutics by 4.6% during the 1st quarter. Rhumbline Advisers now owns 104,559 shares of the company's stock valued at $1,409,000 after acquiring an additional 4,621 shares in the last quarter.

Viridian Therapeutics Company Profile

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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