Oppenheimer Cuts Viridian Therapeutics (NASDAQ:VRDN) Price Target to $31.00

Viridian Therapeutics (NASDAQ:VRDN) had its price target dropped by equities research analysts at Oppenheimer from $36.00 to $31.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target would indicate a potential upside of 122.22% from the stock’s previous close.

Several other brokerages have also commented on VRDN. HC Wainwright reissued a “buy” rating and set a $37.00 price objective on shares of Viridian Therapeutics in a report on Thursday, February 29th. LADENBURG THALM/SH SH lowered Viridian Therapeutics from a “buy” rating to a “neutral” rating in a research note on Thursday. Needham & Company LLC reissued a “buy” rating and set a $30.00 price target on shares of Viridian Therapeutics in a research report on Thursday. Wedbush boosted their price objective on shares of Viridian Therapeutics from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. Finally, B. Riley lowered shares of Viridian Therapeutics from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $25.00 to $20.00 in a report on Thursday. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.60.

Viridian Therapeutics Stock Down 6.4 %

Shares of Viridian Therapeutics stock traded down $0.95 during trading hours on Thursday, reaching $13.95. The company’s stock had a trading volume of 710,708 shares, compared to its average volume of 915,709. The company has a debt-to-equity ratio of 0.09, a quick ratio of 18.26 and a current ratio of 18.26. The stock’s fifty day simple moving average is $16.46 and its two-hundred day simple moving average is $17.64. The company has a market capitalization of $890.29 million, a P/E ratio of -2.63 and a beta of 1.14. Viridian Therapeutics has a one year low of $10.93 and a one year high of $28.35.

Viridian Therapeutics (NASDAQ:VRDN) last announced its earnings results on Wednesday, May 8th. The company reported ($0.79) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.28. The firm had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.09 million. Viridian Therapeutics had a negative return on equity of 121.80% and a negative net margin of 75,711.48%. The company’s revenue was down 26.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.61) EPS. On average, research analysts forecast that Viridian Therapeutics will post -4.39 earnings per share for the current year.

Hedge Funds Weigh In On Viridian Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of VRDN. Vestal Point Capital LP purchased a new position in Viridian Therapeutics in the fourth quarter worth about $21,780,000. Perceptive Advisors LLC grew its position in Viridian Therapeutics by 71.1% during the fourth quarter. Perceptive Advisors LLC now owns 1,730,212 shares of the company’s stock valued at $37,684,000 after buying an additional 719,007 shares during the period. RTW Investments LP purchased a new stake in Viridian Therapeutics during the fourth quarter valued at approximately $13,195,000. Braidwell LP raised its position in Viridian Therapeutics by 43.8% in the third quarter. Braidwell LP now owns 1,735,182 shares of the company’s stock worth $26,618,000 after acquiring an additional 528,882 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Viridian Therapeutics by 170.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 313,217 shares of the company’s stock worth $4,805,000 after acquiring an additional 197,430 shares during the last quarter.

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.