Viridian Therapeutics (NASDAQ:VRDN) Price Target Raised to $36.00

Key Points

• Oppenheimer has raised its price target for Viridian Therapeutics from $32.00 to $36.00, indicating a potential upside of 47.5% from the previous close.
• The stock has received mixed reviews from analysts, with eight give it a "Buy" rating, one a "Hold", and one a "Sell", leading to an average rating of "Moderate Buy".
• Viridian Therapeutics recently reported a quarterly revenue of $0.08 million, matching the consensus estimate, while continuing to incur significant negative net margins.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) had its price objective lifted by research analysts at Oppenheimer from $32.00 to $36.00 in a report released on Tuesday, MarketBeat.com reports. The firm currently has an "outperform" rating on the stock. Oppenheimer's target price points to a potential upside of 47.50% from the company's previous close.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company dropped their target price on shares of Viridian Therapeutics from $27.00 to $26.00 and set an "equal weight" rating for the company in a report on Thursday, August 7th. Royal Bank Of Canada dropped their price objective on shares of Viridian Therapeutics from $45.00 to $41.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Weiss Ratings restated a "sell (d-)" rating on shares of Viridian Therapeutics in a research report on Wednesday, October 8th. The Goldman Sachs Group raised their target price 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. Finally, Needham & Company LLC decreased their target price on shares of Viridian Therapeutics from $36.00 to $34.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $35.38.

Viridian Therapeutics Stock Performance

NASDAQ VRDN traded up $0.32 during trading hours on Tuesday, hitting $24.41. The company had a trading volume of 47,934 shares, compared to its average volume of 880,854. Viridian Therapeutics has a 1-year low of $9.90 and a 1-year high of $27.20. The company has a market cap of $1.99 billion, a PE ratio of -6.39 and a beta of 0.49. The business has a 50 day moving average of $19.83 and a 200-day moving average of $16.43. The company has a debt-to-equity ratio of 0.04, a quick ratio of 11.01 and a current ratio of 11.01.

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

Institutional Investors Weigh In On Viridian Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Commodore Capital LP increased its position in shares of Viridian Therapeutics by 35.4% in the 2nd quarter. Commodore Capital LP now owns 4,875,000 shares of the company's stock worth $68,152,000 after purchasing an additional 1,275,000 shares during the last quarter. Maverick Capital Ltd. increased its position in shares of Viridian Therapeutics by 9.5% in the 2nd quarter. Maverick Capital Ltd. now owns 2,257,010 shares of the company's stock worth $31,553,000 after purchasing an additional 195,736 shares during the last quarter. Paradigm Biocapital Advisors LP increased its position in shares of Viridian Therapeutics by 15.1% in the 1st quarter. Paradigm Biocapital Advisors LP now owns 2,095,079 shares of the company's stock worth $28,242,000 after purchasing an additional 275,000 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Viridian Therapeutics by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,740,614 shares of the company's stock worth $24,337,000 after purchasing an additional 20,089 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Viridian Therapeutics by 33.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,231,092 shares of the company's stock worth $16,595,000 after purchasing an additional 310,998 shares during 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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