Truist Financial Forecasts Strong Price Appreciation for Viridian Therapeutics (NASDAQ:VRDN) Stock

Viridian Therapeutics (NASDAQ:VRDN) had its price target upped by equities research analysts at Truist Financial from $38.00 to $39.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price indicates a potential upside of 72.15% from the stock’s previous close.

VRDN has been the topic of a number of other reports. Royal Bank Of Canada raised their price target on shares of Viridian Therapeutics from $34.00 to $35.00 and gave the company an “outperform” rating in a research note on Tuesday, June 30th. Weiss Ratings cut shares of Viridian Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 30th. Wells Fargo & Company upgraded shares of Viridian Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $20.00 to $31.00 in a report on Monday, June 29th. Needham & Company LLC reiterated a “buy” rating and issued a $32.00 price target on shares of Viridian Therapeutics in a research note on Monday, June 29th. Finally, Wedbush boosted their price objective on Viridian Therapeutics from $32.00 to $43.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 30th. Thirteen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Viridian Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $38.86.

Viridian Therapeutics Stock Up 0.6%

NASDAQ VRDN opened at $22.66 on Friday. The business has a fifty day moving average price of $18.26 and a two-hundred day moving average price of $21.65. The stock has a market capitalization of $2.34 billion, a PE ratio of -6.89 and a beta of 0.91. Viridian Therapeutics has a fifty-two week low of $13.18 and a fifty-two week high of $34.29. The company has a debt-to-equity ratio of 0.10, a current ratio of 15.15 and a quick ratio of 15.15.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.02). Viridian Therapeutics had a negative return on equity of 80.19% and a negative net margin of 490.31%.The business had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.06 million. Equities analysts expect that Viridian Therapeutics will post -3.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Fairmount Funds Management Llc bought 1,176,470 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was 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 of the company’s stock, valued at $86,545,776. This trade represents a 30.05% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Viridian Therapeutics

Several large investors have recently modified their holdings of VRDN. Perceptive Advisors LLC grew its holdings in Viridian Therapeutics by 108.1% during the 4th quarter. Perceptive Advisors LLC now owns 3,042,703 shares of the company’s stock worth $94,689,000 after acquiring an additional 1,580,303 shares during the period. Morgan Stanley boosted its position in shares of Viridian Therapeutics by 805.6% during the 4th quarter. Morgan Stanley now owns 1,738,225 shares of the company’s stock valued at $54,094,000 after purchasing an additional 1,546,284 shares in the last quarter. Avoro Capital Advisors LLC acquired a new stake in Viridian Therapeutics during the fourth quarter worth approximately $46,680,000. Vanguard Group Inc. lifted its stake in Viridian Therapeutics by 29.6% in the fourth quarter. Vanguard Group Inc. now owns 5,612,144 shares of the company’s stock valued at $174,650,000 after buying an additional 1,280,161 shares during the period. Finally, Commodore Capital LP lifted its position in shares of Viridian Therapeutics by 35.4% during the 2nd quarter. Commodore Capital LP now owns 4,875,000 shares of the company’s stock valued at $68,152,000 after acquiring an additional 1,275,000 shares during the period.

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.