The Goldman Sachs Group Cuts Viridian Therapeutics (NASDAQ:VRDN) Price Target to $31.00

Viridian Therapeutics (NASDAQ:VRDN) had its price objective reduced by stock analysts at The Goldman Sachs Group from $36.00 to $31.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 120.28% from the company’s previous close.

Other analysts also recently issued reports about the company. Wall Street Zen downgraded Viridian Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. UBS Group assumed coverage on Viridian Therapeutics in a research report on Wednesday, January 7th. They set a “buy” rating and a $50.00 price objective for the company. Wells Fargo & Company dropped their target price on Viridian Therapeutics from $29.00 to $20.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viridian Therapeutics in a research report on Wednesday, January 21st. Finally, Evercore reiterated an “outperform” rating and issued a $44.00 target price on shares of Viridian Therapeutics in a research report on Tuesday, January 20th. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.00.

Viridian Therapeutics Price Performance

Shares of VRDN traded up $0.17 during trading hours on Tuesday, hitting $14.07. 4,090,124 shares of the company were exchanged, compared to its average volume of 1,961,879. The company has a market cap of $1.44 billion, a price-to-earnings ratio of -4.28 and a beta of 1.16. Viridian Therapeutics has a fifty-two week low of $9.90 and a fifty-two week high of $34.29. The company has a quick ratio of 12.65, a current ratio of 12.65 and a debt-to-equity ratio of 0.08. The firm’s fifty day moving average is $27.97 and its 200 day moving average is $27.86.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.18). Viridian Therapeutics had a negative return on equity of 83.25% and a negative net margin of 483.57%.The business had revenue of $0.13 million for the quarter, compared to the consensus estimate of $15.75 million. On average, equities analysts anticipate that Viridian Therapeutics will post -4.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Viridian Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of 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. Commodore Capital LP increased its stake in shares of Viridian Therapeutics by 35.4% in 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. State Street Corp increased its stake in shares of Viridian Therapeutics by 35.7% in the fourth quarter. State Street Corp now owns 3,466,560 shares of the company’s stock valued at $107,879,000 after buying an additional 912,394 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Viridian Therapeutics by 42.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,439,414 shares of the company’s stock valued at $107,036,000 after buying an additional 1,021,310 shares during the period. Finally, Perceptive Advisors LLC increased its stake in shares of Viridian Therapeutics by 108.1% in the fourth quarter. Perceptive Advisors LLC now owns 3,042,703 shares of the company’s stock valued at $94,689,000 after buying an additional 1,580,303 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.