Viridian Therapeutics, Inc. (NASDAQ:VRDN) Receives $38.54 Average Target Price from Brokerages

Viridian Therapeutics, Inc. (NASDAQ:VRDN) has been given an average rating of “Moderate Buy” by the thirteen analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $38.5385.

VRDN has been the topic of several recent analyst reports. Wells Fargo & Company raised shares of Viridian Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $20.00 to $31.00 in a research note on Monday, June 29th. Royal Bank Of Canada raised their target price on Viridian Therapeutics from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Weiss Ratings downgraded Viridian Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 30th. Truist Financial upped their price target on Viridian Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $39.00 price objective on shares of Viridian Therapeutics in a research note on Tuesday, June 30th.

Insiders Place Their Bets

In other news, insider Jennifer Tousignant sold 14,212 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $24.50, for a total value of $348,194.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ANTIPODES PARTNERS Ltd acquired a new position in Viridian Therapeutics in the 4th quarter valued at approximately $36,000. KBC Group NV acquired a new stake in shares of Viridian Therapeutics during the 1st quarter valued at $34,000. Integrated Wealth Concepts LLC purchased a new position in shares of Viridian Therapeutics during the 2nd quarter valued at $33,000. State of Wyoming purchased a new position in shares of Viridian Therapeutics during the 2nd quarter valued at $43,000. Finally, Larson Financial Group LLC acquired a new position in shares of Viridian Therapeutics in the third quarter worth $52,000.

Viridian Therapeutics Stock Performance

Shares of VRDN opened at $21.24 on Friday. The company has a 50-day moving average of $21.47 and a two-hundred day moving average of $20.34. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of -6.30 and a beta of 0.97. The company has a debt-to-equity ratio of 0.43, a current ratio of 16.95 and a quick ratio of 16.95. Viridian Therapeutics has a one year low of $13.18 and a one year high of $34.29.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings results on Thursday, August 6th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.02). The firm had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.06 million. Viridian Therapeutics had a negative net margin of 505.86% and a negative return on equity of 72.97%. On average, equities research analysts expect that Viridian Therapeutics will post -4.07 earnings per share for the current year.

About Viridian Therapeutics

Viridian Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious diseases involving the immune system. The company’s primary focus is thyroid eye disease (TED), an autoimmune disorder that can cause inflammation, pain, swelling and vision-related complications.

Viridian’s lead programs target the insulin-like growth factor 1 receptor (IGF-1R), a pathway associated with TED. Its pipeline has included investigational therapies such as veligrotug (VRDN-001), an intravenous antibody designed to block IGF-1R, and subcutaneous formulations intended to provide more convenient administration.