Viridian Therapeutics, Inc. (NASDAQ:VRDN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Viridian Therapeutics, Inc. (NASDAQ:VRDN) has been given a consensus rating of “Moderate Buy” by the eleven brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $35.80.

Several research firms recently issued reports on VRDN. HC Wainwright reissued a “buy” rating and set a $27.00 price target on shares of Viridian Therapeutics in a report on Tuesday, September 10th. Wedbush reissued an “outperform” rating and issued a $42.00 price target on shares of Viridian Therapeutics in a report on Monday, July 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $44.00 price objective on shares of Viridian Therapeutics in a report on Thursday, September 19th. Wolfe Research initiated coverage on Viridian Therapeutics in a research report on Tuesday, June 11th. They issued an “outperform” rating and a $29.00 price objective for the company. Finally, Needham & Company LLC boosted their target price on shares of Viridian Therapeutics from $30.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th.

Viridian Therapeutics Trading Down 2.5 %

NASDAQ:VRDN opened at $22.75 on Thursday. Viridian Therapeutics has a 12-month low of $10.93 and a 12-month high of $24.18. The company has a current ratio of 15.82, a quick ratio of 15.82 and a debt-to-equity ratio of 0.05. The stock’s 50 day simple moving average is $17.15 and its 200-day simple moving average is $15.24. The firm has a market cap of $1.45 billion, a P/E ratio of -5.06 and a beta of 1.03.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $0.09 million. Equities analysts anticipate that Viridian Therapeutics will post -3.94 EPS for the current year.

Insider Buying and Selling

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc purchased 1,600,000 shares of Viridian Therapeutics stock in a transaction on Friday, September 13th. The shares were bought at an average price of $18.75 per share, with a total value of $30,000,000.00. Following the completion of the acquisition, the director now directly owns 3,445,813 shares of the company’s stock, valued at $64,608,993.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Fairmount Funds Management Llc purchased 1,600,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was bought at an average cost of $18.75 per share, with a total value of $30,000,000.00. Following the completion of the acquisition, the director now directly owns 3,445,813 shares in the company, valued at approximately $64,608,993.75. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Thomas W. Beetham acquired 5,000 shares of Viridian Therapeutics stock in a transaction dated Friday, September 27th. The stock was bought at an average price of $23.41 per share, for a total transaction of $117,050.00. Following the completion of the transaction, the chief operating officer now directly owns 6,000 shares of the company’s stock, valued at $140,460. The disclosure for this purchase can be found here. Insiders have acquired 1,626,400 shares of company stock worth $30,616,312 in the last three months. Corporate insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Viridian Therapeutics

Several hedge funds have recently modified their holdings of the company. Quest Partners LLC raised its position in shares of Viridian Therapeutics by 344.0% in the second quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock valued at $79,000 after buying an additional 4,692 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in Viridian Therapeutics by 19.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock worth $87,000 after acquiring an additional 799 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Viridian Therapeutics by 24.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock valued at $156,000 after acquiring an additional 2,359 shares during the last quarter. AlphaCentric Advisors LLC lifted its stake in shares of Viridian Therapeutics by 108.3% during the 2nd quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock worth $163,000 after purchasing an additional 6,500 shares during the period. Finally, Arizona State Retirement System boosted its holdings in shares of Viridian Therapeutics by 14.7% during the second quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock worth $171,000 after purchasing an additional 1,688 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.