Brokerages Set Viridian Therapeutics, Inc. (NASDAQ:VRDN) Target Price at $36.14

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have been assigned an average recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and twelve have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $36.1429.

Several brokerages have recently commented on VRDN. HC Wainwright reduced their target price 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. Stifel Nicolaus set a $39.00 target price on Viridian Therapeutics in a research note on Wednesday, May 13th. Truist Financial reduced their target price on Viridian Therapeutics from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. Evercore set a $26.00 target price on Viridian Therapeutics in a research note on Friday, May 15th. Finally, Wedbush reduced their target price on Viridian Therapeutics from $37.00 to $31.00 and set an “outperform” rating for the company in a research note on Wednesday, April 8th.

Insiders Place Their Bets

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc purchased 1,176,470 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average price of $17.00 per share, with a total value of $19,999,990.00. Following the transaction, the director owned 5,090,928 shares in the company, valued at $86,545,776. The trade was a 30.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Viridian Therapeutics

Large investors have recently added to or reduced their stakes in the business. ANTIPODES PARTNERS Ltd bought a new position in Viridian Therapeutics in the 4th quarter valued at about $36,000. Aster Capital Management DIFC Ltd bought a new position in Viridian Therapeutics in the 3rd quarter valued at about $35,000. KBC Group NV bought a new position in shares of Viridian Therapeutics during the 1st quarter worth approximately $34,000. Larson Financial Group LLC bought a new position in shares of Viridian Therapeutics during the 3rd quarter worth approximately $52,000. Finally, US Bancorp DE lifted its position in shares of Viridian Therapeutics by 23.2% during the 3rd quarter. US Bancorp DE now owns 2,457 shares of the company’s stock worth $53,000 after buying an additional 463 shares in the last quarter.

Viridian Therapeutics Stock Performance

Shares of Viridian Therapeutics stock opened at $17.90 on Monday. The company has a current ratio of 15.15, a quick ratio of 15.15 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $16.25 and a two-hundred day moving average price of $24.27. Viridian Therapeutics has a 1-year low of $13.18 and a 1-year high of $34.29. The company has a market cap of $1.85 billion, a P/E ratio of -5.39 and a beta of 0.90.

Viridian Therapeutics (NASDAQ:VRDN) last issued its earnings results on Tuesday, May 5th. The company reported ($0.90) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.16. The company had revenue of $0.14 million during the quarter, compared to the consensus estimate of $0.04 million. Viridian Therapeutics had a negative return on equity of 80.19% and a negative net margin of 490.31%.The firm’s revenue for the quarter was up 95.8% compared to the same quarter last year. During the same period last year, the business posted ($0.87) EPS. As a group, analysts anticipate that Viridian Therapeutics will post -3.87 EPS for the current year.

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.