Analysts Set Viridian Therapeutics, Inc. (NASDAQ:VRDN) Price Target at $35.70

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the twelve brokerages that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $35.70.

Several brokerages recently issued reports on VRDN. HC Wainwright reiterated a "buy" rating and issued a $34.00 price target on shares of Viridian Therapeutics in a research note on Monday, December 16th. BTIG Research lifted their target price on Viridian Therapeutics from $56.00 to $61.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. Needham & Company LLC reiterated a "buy" rating and issued a $38.00 price target on shares of Viridian Therapeutics in a research note on Monday, November 25th. TD Cowen initiated coverage on Viridian Therapeutics in a report on Monday, November 25th. They issued a "buy" rating on the stock. Finally, The Goldman Sachs Group boosted their target price on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the company a "buy" rating in a research report on Thursday, September 12th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quest Partners LLC grew its stake in Viridian Therapeutics by 344.0% during the second quarter. Quest Partners LLC now owns 6,056 shares of the company's stock valued at $79,000 after acquiring an additional 4,692 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Viridian Therapeutics in the third quarter worth about $149,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Viridian Therapeutics by 24.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company's stock worth $156,000 after buying an additional 2,359 shares in the last quarter. Arizona State Retirement System boosted its stake in Viridian Therapeutics by 14.7% during the second quarter. Arizona State Retirement System now owns 13,178 shares of the company's stock valued at $171,000 after buying an additional 1,688 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Viridian Therapeutics during the 3rd quarter valued at approximately $208,000.

Viridian Therapeutics Price Performance

VRDN stock traded up $0.43 during mid-day trading on Friday, hitting $20.19. 1,667,085 shares of the stock were exchanged, compared to its average volume of 1,725,443. Viridian Therapeutics has a 12 month low of $11.40 and a 12 month high of $27.20. The company has a debt-to-equity ratio of 0.04, a current ratio of 18.55 and a quick ratio of 18.55. The business has a fifty day moving average price of $20.83 and a 200 day moving average price of $18.65. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -4.68 and a beta of 1.04.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.11) by ($0.04). The firm had revenue of $0.09 million during the quarter, compared to analysts' expectations of $0.08 million. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. On average, sell-side analysts anticipate that Viridian Therapeutics will post -4.03 EPS for the current year.

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.