Viridian Therapeutics’ (VRDN) Buy Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of Viridian Therapeutics (NASDAQ:VRDN) in a research report released on Tuesday morning,Benzinga reports. BTIG Research currently has a $61.00 target price on the stock.

A number of other brokerages have also commented on VRDN. Oppenheimer increased their price target on Viridian Therapeutics from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viridian Therapeutics in a research report on Wednesday, October 8th. Royal Bank Of Canada reduced their price target on shares of Viridian Therapeutics from $45.00 to $41.00 and set an “outperform” rating on the stock in a research report on Thursday, August 7th. Needham & Company LLC decreased their price target on shares of Viridian Therapeutics from $36.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Finally, Wells Fargo & Company dropped their price objective on shares of Viridian Therapeutics from $27.00 to $26.00 and set an “equal weight” rating for the company in a research note on Thursday, August 7th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $39.78.

Viridian Therapeutics Price Performance

Shares of NASDAQ:VRDN opened at $27.50 on Tuesday. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of -7.18 and a beta of 0.72. The firm has a fifty day moving average price of $21.12 and a 200 day moving average price of $17.41. Viridian Therapeutics has a fifty-two week low of $9.90 and a fifty-two week high of $28.60. The company has a debt-to-equity ratio of 0.04, a quick ratio of 11.01 and a current ratio of 11.01.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.82) by $0.48. The business had revenue of $0.07 million for the quarter, compared to analysts’ expectations of $16.21 million. Viridian Therapeutics had a negative net margin of 112,806.88% and a negative return on equity of 78.95%. The business’s revenue was up 81993.0% on a year-over-year basis. As a group, sell-side analysts expect that Viridian Therapeutics will post -4.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Viridian Therapeutics

In other news, Director Fairmount Funds Management Llc bought 454,545 shares of the stock in a transaction dated Thursday, October 23rd. The stock was purchased at an average price of $22.00 per share, for a total transaction of $9,999,990.00. Following the acquisition, the director owned 3,914,458 shares of the company’s stock, valued at $86,118,076. The trade was a 13.14% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.58% of the company’s stock.

Institutional Trading of Viridian Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VRDN. Commodore Capital LP boosted its position in shares of Viridian Therapeutics by 35.4% during the second quarter. Commodore Capital LP now owns 4,875,000 shares of the company’s stock valued at $68,152,000 after buying an additional 1,275,000 shares during the period. Maverick Capital Ltd. lifted its stake in shares of Viridian Therapeutics by 9.5% during the 2nd quarter. Maverick Capital Ltd. now owns 2,257,010 shares of the company’s stock worth $31,553,000 after acquiring an additional 195,736 shares during the last quarter. Paradigm Biocapital Advisors LP boosted its holdings in Viridian Therapeutics by 15.1% during the 1st quarter. Paradigm Biocapital Advisors LP now owns 2,095,079 shares of the company’s stock valued at $28,242,000 after acquiring an additional 275,000 shares during the period. Geode Capital Management LLC grew its position in Viridian Therapeutics by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,740,614 shares of the company’s stock valued at $24,337,000 after acquiring an additional 20,089 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Viridian Therapeutics by 33.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,231,092 shares of the company’s stock valued at $16,595,000 after acquiring an additional 310,998 shares during the last quarter.

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.