Viridian Therapeutics (NASDAQ:VRDN) PT Raised to $56.00 at BTIG Research

Viridian Therapeutics (NASDAQ:VRDN) had its price objective raised by BTIG Research from $46.00 to $56.00 in a research report released on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on the stock. Royal Bank of Canada reiterated an outperform rating and set a $35.00 price target on shares of Viridian Therapeutics in a report on Wednesday, August 28th. Oppenheimer reiterated an outperform rating and set a $28.00 price target (down previously from $31.00) on shares of Viridian Therapeutics in a report on Monday, August 12th. HC Wainwright restated a buy rating and issued a $27.00 target price on shares of Viridian Therapeutics in a report on Thursday, August 15th. Wedbush restated an outperform rating and issued a $42.00 target price on shares of Viridian Therapeutics in a report on Monday, July 29th. Finally, The Goldman Sachs Group assumed coverage on shares of Viridian Therapeutics in a report on Thursday, June 6th. They issued a buy rating and a $23.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $35.30.

Viridian Therapeutics Trading Up 6.6 %

NASDAQ:VRDN opened at $22.06 on Tuesday. The company’s 50 day moving average price is $15.39 and its 200-day moving average price is $15.05. Viridian Therapeutics has a 52 week low of $10.93 and a 52 week high of $24.18. The company has a quick ratio of 15.82, a current ratio of 15.82 and a debt-to-equity ratio of 0.05. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -4.90 and a beta of 1.03.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of VRDN. New York State Common Retirement Fund boosted its stake in shares of Viridian Therapeutics by 9.7% during the 4th quarter. New York State Common Retirement Fund now owns 17,495 shares of the company’s stock worth $378,000 after acquiring an additional 1,545 shares during the last quarter. Swiss National Bank boosted its stake in shares of Viridian Therapeutics by 1.2% during the 4th quarter. Swiss National Bank now owns 67,200 shares of the company’s stock worth $1,464,000 after acquiring an additional 800 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Viridian Therapeutics by 18.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 371,311 shares of the company’s stock worth $8,087,000 after acquiring an additional 58,094 shares during the last quarter. Affinity Asset Advisors LLC purchased a new position in shares of Viridian Therapeutics during the 4th quarter worth $1,089,000. Finally, RTW Investments LP purchased a new position in shares of Viridian Therapeutics during the 4th quarter worth $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.