Brokerages Set Viridian Therapeutics, Inc. (NASDAQ:VRDN) Price Target at $35.30

by · The Cerbat Gem

Viridian Therapeutics, Inc. (NASDAQ:VRDN – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $35.80.

Several brokerages recently issued reports on VRDN. HC Wainwright restated a “buy” rating and issued a $27.00 price objective on shares of Viridian Therapeutics in a report on Tuesday, September 10th. BTIG Research raised their price target on Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $44.00 price objective on shares of Viridian Therapeutics in a report on Thursday, September 19th. Wolfe Research began coverage on shares of Viridian Therapeutics in a report on Tuesday, June 11th. They issued an “outperform” rating and a $29.00 price objective for the company. Finally, Oppenheimer reiterated an “outperform” rating and set a $28.00 target price (down from $31.00) on shares of Viridian Therapeutics in a report on Monday, August 12th.

Check Out Our Latest Analysis on Viridian Therapeutics

Insider Buying and Selling at Viridian Therapeutics

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

Institutional Trading of Viridian Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. lifted its stake in Viridian Therapeutics by 19.2% in the first quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock valued at $87,000 after buying an additional 799 shares during the last quarter. Quest Partners LLC raised its position in Viridian Therapeutics by 344.0% in the 2nd quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock valued at $79,000 after purchasing an additional 4,692 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Viridian Therapeutics by 9.7% during the 1st quarter. Principal Financial Group Inc. now owns 11,915 shares of the company’s stock worth $209,000 after purchasing an additional 1,058 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Viridian Therapeutics by 24.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock worth $156,000 after purchasing an additional 2,359 shares during the last quarter. Finally, AlphaCentric Advisors LLC increased its stake in Viridian Therapeutics by 108.3% in the second quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock valued at $163,000 after purchasing an additional 6,500 shares during the period.

Viridian Therapeutics Price Performance

Viridian Therapeutics stock opened at $22.75 on Thursday. 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 company has a 50-day moving average price of $17.15 and a 200 day moving average price of $15.24. Viridian Therapeutics has a 12-month low of $10.93 and a 12-month high of $24.18. The stock 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 – Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.15). The business had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.09 million. Viridian Therapeutics had a negative net margin of 79,185.77% and a negative return on equity of 83.18%. Sell-side analysts anticipate that Viridian Therapeutics will post -3.94 earnings per share for the current year.

About Viridian Therapeutics

(Get Free Report

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.

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