Brokerages Set Viridian Therapeutics, Inc. (NASDAQ:VRDN) PT at $35.70

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have been assigned an average rating of “Moderate Buy” from the twelve brokerages that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $35.70.

A number of brokerages have commented on VRDN. TD Cowen initiated coverage on shares of Viridian Therapeutics in a research note on Monday, November 25th. They set a “buy” rating for the company. Wells Fargo & Company restated an “equal weight” rating and set a $27.00 target price (down previously from $37.00) on shares of Viridian Therapeutics in a research report on Thursday, December 19th. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price target on shares of Viridian Therapeutics in a research report on Tuesday, January 7th. Royal Bank of Canada increased their price objective on Viridian Therapeutics from $44.00 to $47.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Finally, HC Wainwright restated a “buy” rating and issued a $34.00 target price on shares of Viridian Therapeutics in a research note on Monday, December 16th.

Viridian Therapeutics Stock Performance

Shares of NASDAQ VRDN opened at $15.53 on Friday. Viridian Therapeutics has a one year low of $11.40 and a one year high of $27.20. The company has a current ratio of 18.55, a quick ratio of 18.55 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $18.20 and a 200 day simple moving average of $19.66. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -3.60 and a beta of 1.32.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.81) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.05) by $0.24. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. The company had revenue of $0.07 million during the quarter, compared to analysts’ expectations of $0.05 million. Sell-side analysts expect that Viridian Therapeutics will post -4.03 EPS for the current year.

Hedge Funds Weigh In On Viridian Therapeutics

Institutional investors have recently modified their holdings of the stock. R Squared Ltd bought a new stake in shares of Viridian Therapeutics during the fourth quarter valued at approximately $26,000. Foresite Capital Management VI LLC acquired a new position in Viridian Therapeutics during the 4th quarter worth $38,000. AlphaQuest LLC lifted its holdings in Viridian Therapeutics by 119.0% during the 4th quarter. AlphaQuest LLC now owns 2,795 shares of the company’s stock worth $54,000 after buying an additional 1,519 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Viridian Therapeutics in the 3rd quarter valued at $149,000. Finally, Summit Investment Advisors Inc. increased its stake in shares of Viridian Therapeutics by 24.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,646 shares of the company’s stock valued at $147,000 after buying an additional 1,516 shares during the period.

About Viridian Therapeutics

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.