Viridian Therapeutics (NASDAQ:VRDN) Given New $31.00 Price Target at The Goldman Sachs Group

Viridian Therapeutics (NASDAQ:VRDN) had its target price boosted by The Goldman Sachs Group from $25.00 to $31.00 in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also recently weighed in on VRDN. Wedbush reiterated an outperform rating and issued a $42.00 price objective on shares of Viridian Therapeutics in a research note on Monday, July 29th. Oppenheimer reiterated an outperform rating and issued a $28.00 price objective (down previously from $31.00) on shares of Viridian Therapeutics in a research note on Monday, August 12th. BTIG Research increased their price objective on shares of Viridian Therapeutics from $46.00 to $56.00 and gave the stock a buy rating in a research note on Tuesday. Needham & Company LLC increased their price objective on shares of Viridian Therapeutics from $30.00 to $38.00 and gave the stock a buy rating in a research note on Wednesday. Finally, HC Wainwright reiterated a buy rating and issued a $27.00 price objective on shares of Viridian Therapeutics in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Viridian Therapeutics presently has an average rating of Moderate Buy and an average target price of $34.91.

Viridian Therapeutics Stock Up 4.5 %

Shares of VRDN stock opened at $20.70 on Thursday. Viridian Therapeutics has a one year low of $10.93 and a one year high of $24.18. The company’s 50-day moving average is $15.20 and its 200 day moving average is $15.03. The company has a debt-to-equity ratio of 0.05, a current ratio of 15.82 and a quick ratio of 15.82.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.15). The company had revenue of $0.07 million for the quarter, compared to analysts’ expectations of $0.09 million. Viridian Therapeutics had a negative net margin of 79,185.77% and a negative return on equity of 83.18%. Sell-side analysts forecast that Viridian Therapeutics will post -3.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Viridian Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of VRDN. New York State Common Retirement Fund raised its position in shares of Viridian Therapeutics by 9.7% during the fourth quarter. New York State Common Retirement Fund now owns 17,495 shares of the company’s stock valued at $378,000 after buying an additional 1,545 shares during the last quarter. Swiss National Bank raised its position in shares of Viridian Therapeutics by 1.2% during the fourth quarter. Swiss National Bank now owns 67,200 shares of the company’s stock valued at $1,464,000 after buying an additional 800 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Viridian Therapeutics by 18.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 371,311 shares of the company’s stock valued at $8,087,000 after buying an additional 58,094 shares during the last quarter. Affinity Asset Advisors LLC bought a new stake in shares of Viridian Therapeutics during the fourth quarter valued at approximately $1,089,000. Finally, RTW Investments LP purchased a new position in shares of Viridian Therapeutics in the fourth quarter valued at $13,195,000.

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.