The Goldman Sachs Group Cuts Viridian Therapeutics (NASDAQ:VRDN) Price Target to $31.00

Viridian Therapeutics (NASDAQ:VRDN) had its target price decreased by research analysts at The Goldman Sachs Group from $36.00 to $31.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 120.28% from the company’s current price.

Several other research firms have also recently commented on VRDN. Wells Fargo & Company decreased their target price on Viridian Therapeutics from $29.00 to $20.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Viridian Therapeutics in a research note on Wednesday, January 21st. UBS Group assumed coverage on Viridian Therapeutics in a report on Wednesday, January 7th. They issued a “buy” rating and a $50.00 target price on the stock. HC Wainwright dropped their target price on Viridian Therapeutics from $34.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, March 31st. Finally, Wall Street Zen lowered Viridian Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.00.

Viridian Therapeutics Trading Up 1.2%

NASDAQ VRDN traded up $0.17 during trading hours on Tuesday, hitting $14.07. 4,090,124 shares of the company’s stock were exchanged, compared to its average volume of 1,961,879. The stock has a 50-day simple moving average of $27.97 and a 200 day simple moving average of $27.86. Viridian Therapeutics has a 1-year low of $9.90 and a 1-year high of $34.29. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -4.28 and a beta of 1.16. The company has a current ratio of 12.65, a quick ratio of 12.65 and a debt-to-equity ratio of 0.08.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results on Thursday, February 26th. The company reported ($1.08) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.18). Viridian Therapeutics had a negative return on equity of 83.25% and a negative net margin of 483.57%.The business had revenue of $0.13 million for the quarter, compared to analyst estimates of $15.75 million. On average, equities analysts forecast that Viridian Therapeutics will post -4.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Viridian Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. ANTIPODES PARTNERS Ltd bought a new stake in shares of Viridian Therapeutics in the 4th quarter valued at about $36,000. Aster Capital Management DIFC Ltd bought a new position in Viridian Therapeutics during the 3rd quarter valued at approximately $35,000. Farther Finance Advisors LLC raised its position in shares of Viridian Therapeutics by 332.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,940 shares of the company’s stock worth $42,000 after acquiring an additional 1,491 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Viridian Therapeutics by 947.7% in the 3rd quarter. Bessemer Group Inc. now owns 2,085 shares of the company’s stock worth $45,000 after acquiring an additional 1,886 shares in the last quarter. Finally, Larson Financial Group LLC bought a new position in shares of Viridian Therapeutics in the 3rd quarter worth approximately $52,000.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc (NASDAQ: VRDN) is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted antibody therapeutics for patients suffering from rare and serious diseases. The company’s lead program, VRDN-001, is a fully human monoclonal antibody that antagonizes the insulin-like growth factor-1 receptor (IGF-1R), with an initial focus on thyroid eye disease (TED). By selectively inhibiting IGF-1R signaling, VRDN-001 aims to reduce inflammation and tissue remodeling associated with TED and related disorders.

In addition to VRDN-001, Viridian is advancing a second antibody program, VRDN-002, which targets complement-mediated pathways implicated in autoimmune and inflammatory diseases.