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

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have earned a consensus rating of “Moderate Buy” from the fourteen brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $36.1429.

VRDN has been the topic of several research reports. Wedbush lowered their price objective on shares of Viridian Therapeutics from $37.00 to $31.00 and set an “outperform” rating on the stock in a report on Wednesday, April 8th. Needham & Company LLC reissued a “buy” rating and set a $32.00 target price on shares of Viridian Therapeutics in a research report on Tuesday, May 5th. Evercore set a $26.00 target price on shares of Viridian Therapeutics in a report on Friday, May 15th. Wall Street Zen raised shares of Viridian Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, HC Wainwright cut their price target on Viridian Therapeutics from $34.00 to $22.00 and set a “buy” rating for the company in a research note on Tuesday, March 31st.

Insider Activity at Viridian Therapeutics

In related news, Director Fairmount Funds Management Llc bought 1,176,470 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were bought at an average price of $17.00 per share, for a total transaction of $19,999,990.00. Following the completion of the acquisition, the director directly owned 5,090,928 shares of the company’s stock, valued at $86,545,776. This trade represents a 30.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Viridian Therapeutics

Several institutional investors have recently bought and sold shares of VRDN. Bank of America Corp DE raised its position in Viridian Therapeutics by 17.5% in the 1st quarter. Bank of America Corp DE now owns 1,163,615 shares of the company’s stock valued at $22,760,000 after buying an additional 173,498 shares during the last quarter. ADAR1 Capital Management LLC boosted its holdings in Viridian Therapeutics by 294.3% during the 1st quarter. ADAR1 Capital Management LLC now owns 304,422 shares of the company’s stock worth $5,954,000 after acquiring an additional 227,224 shares during the last quarter. California State Teachers Retirement System boosted its holdings in Viridian Therapeutics by 28.0% during the 1st quarter. California State Teachers Retirement System now owns 81,021 shares of the company’s stock worth $1,585,000 after acquiring an additional 17,724 shares during the last quarter. Rice Hall James & Associates LLC grew its stake in shares of Viridian Therapeutics by 1.6% in the 1st quarter. Rice Hall James & Associates LLC now owns 898,611 shares of the company’s stock worth $17,577,000 after acquiring an additional 14,079 shares in the last quarter. Finally, Entropy Technologies LP bought a new stake in shares of Viridian Therapeutics in the 1st quarter worth $224,000.

Viridian Therapeutics Price Performance

Shares of NASDAQ:VRDN opened at $17.26 on Thursday. The company has a quick ratio of 15.15, a current ratio of 15.15 and a debt-to-equity ratio of 0.10. Viridian Therapeutics has a twelve month low of $13.18 and a twelve month high of $34.29. The stock’s 50 day moving average is $18.17 and its 200-day moving average is $26.31. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of -5.20 and a beta of 0.82.

Viridian Therapeutics (NASDAQ:VRDN) last issued its earnings results on Tuesday, May 5th. The company reported ($0.90) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.16. The company had revenue of $0.14 million for the quarter, compared to analysts’ expectations of $0.04 million. Viridian Therapeutics had a negative return on equity of 80.19% and a negative net margin of 490.31%.Viridian Therapeutics’s quarterly revenue was up 95.8% compared to the same quarter last year. During the same period last year, the business earned ($0.87) EPS. Sell-side analysts forecast that Viridian Therapeutics will post -3.71 EPS for the current fiscal year.

About Viridian Therapeutics

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.