Viridian Therapeutics (NASDAQ:VRDN) Price Target Cut to $31.00

Viridian Therapeutics (NASDAQ:VRDN) had its target price decreased by investment analysts at Oppenheimer from $36.00 to $31.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price target indicates a potential upside of 122.22% from the company’s current price.

A number of other brokerages also recently issued reports on VRDN. Wedbush increased their price target on shares of Viridian Therapeutics from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 target price on shares of Viridian Therapeutics in a report on Thursday. LADENBURG THALM/SH SH downgraded shares of Viridian Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday. B. Riley cut Viridian Therapeutics from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $25.00 to $20.00 in a report on Thursday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Viridian Therapeutics in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.60.

Viridian Therapeutics Stock Performance

Viridian Therapeutics stock traded down $0.95 during trading hours on Thursday, reaching $13.95. 710,708 shares of the stock were exchanged, compared to its average volume of 915,709. Viridian Therapeutics has a 52-week low of $10.93 and a 52-week high of $28.35. The stock has a market cap of $890.29 million, a P/E ratio of -2.63 and a beta of 1.14. The company has a debt-to-equity ratio of 0.09, a quick ratio of 18.26 and a current ratio of 18.26. The firm’s 50 day moving average is $16.46 and its 200 day moving average is $17.64.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.79) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.28. The firm had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.09 million. Viridian Therapeutics had a negative return on equity of 121.80% and a negative net margin of 75,711.48%. The company’s revenue for the quarter was down 26.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.61) earnings per share. Analysts predict that Viridian Therapeutics will post -4.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Viridian Therapeutics

Institutional investors have recently modified their holdings of the company. Dark Forest Capital Management LP acquired a new position in shares of Viridian Therapeutics in the 3rd quarter valued at about $264,000. Schonfeld Strategic Advisors LLC lifted its position in Viridian Therapeutics by 362.3% during the third quarter. Schonfeld Strategic Advisors LLC now owns 108,037 shares of the company’s stock valued at $1,657,000 after buying an additional 84,670 shares in the last quarter. StoneCrest Wealth Management Inc. purchased a new stake in Viridian Therapeutics during the fourth quarter worth approximately $605,000. Knights of Columbus Asset Advisors LLC increased its position in shares of Viridian Therapeutics by 420.9% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 153,949 shares of the company’s stock worth $3,353,000 after acquiring an additional 124,396 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Viridian Therapeutics by 25.2% in the 3rd quarter. Wellington Management Group LLP now owns 215,648 shares of the company’s stock valued at $3,308,000 after acquiring an additional 43,349 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.