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

Viridian Therapeutics, Inc. (NASDAQ:VRDN) has been given a consensus recommendation of “Moderate Buy” by the fourteen ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating and thirteen have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $38.9286.

VRDN has been the subject of several recent research reports. The Goldman Sachs Group reissued a “buy” rating and set a $39.00 price objective on shares of Viridian Therapeutics in a research report on Tuesday, June 30th. Weiss Ratings downgraded shares of Viridian Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 30th. Evercore set a $26.00 price target on shares of Viridian Therapeutics in a research note on Friday, May 15th. Royal Bank Of Canada lifted their price target on shares of Viridian Therapeutics from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Wells Fargo & Company raised shares of Viridian Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $20.00 to $31.00 in a research note on Monday, June 29th.

Hedge Funds Weigh In On Viridian Therapeutics

A number of hedge funds have recently bought and sold shares of VRDN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Viridian Therapeutics by 1.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company’s stock worth $669,000 after buying an additional 876 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Viridian Therapeutics by 33.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,231,092 shares of the company’s stock valued at $16,595,000 after buying an additional 310,998 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Viridian Therapeutics by 12.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 130,570 shares of the company’s stock worth $1,760,000 after acquiring an additional 14,788 shares during the period. Envestnet Asset Management Inc. bought a new position in Viridian Therapeutics in the second quarter worth approximately $187,000. Finally, Creative Planning purchased a new position in shares of Viridian Therapeutics during the 2nd quarter worth $179,000.

Viridian Therapeutics Trading Down 2.2%

NASDAQ:VRDN opened at $23.06 on Tuesday. The firm has a market capitalization of $2.61 billion, a P/E ratio of -6.84 and a beta of 0.91. The company has a quick ratio of 15.15, a current ratio of 15.15 and a debt-to-equity ratio of 0.10. The company has a fifty day moving average of $18.51 and a 200 day moving average of $21.52. Viridian Therapeutics has a 52 week low of $13.18 and a 52 week high of $34.29.

Viridian Therapeutics (NASDAQ:VRDN) last posted its earnings results on Thursday, August 6th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by ($0.02). The business had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.06 million. Viridian Therapeutics had a negative net margin of 505.86% and a negative return on equity of 76.65%. On average, research analysts predict that Viridian Therapeutics will post -4.02 earnings per share for the current 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.