TD Cowen Initiates Coverage on Viridian Therapeutics (NASDAQ:VRDN)

TD Cowen started coverage on shares of Viridian Therapeutics (NASDAQ:VRDN - Free Report) in a report issued on Monday, MarketBeat.com reports. The firm issued a buy rating on the stock.

Several other equities analysts have also weighed in on VRDN. Royal Bank of Canada restated an "outperform" rating and set a $44.00 target price on shares of Viridian Therapeutics in a report on Thursday, September 19th. Needham & Company LLC reiterated a "buy" rating and set a $38.00 price target on shares of Viridian Therapeutics in a report on Wednesday, November 13th. The Goldman Sachs Group lifted their price target 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. Oppenheimer reaffirmed an "outperform" rating and set a $28.00 price objective (down from $31.00) on shares of Viridian Therapeutics in a report on Monday, August 12th. Finally, Wedbush reiterated an "outperform" rating and issued a $42.00 target price on shares of Viridian Therapeutics in a report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $36.33.

Viridian Therapeutics Stock Up 3.1 %

VRDN stock traded up $0.62 during mid-day trading on Monday, hitting $20.82. The stock had a trading volume of 622,782 shares, compared to its average volume of 1,118,771. Viridian Therapeutics has a 1-year low of $11.40 and a 1-year high of $27.20. The company has a fifty day moving average of $22.73 and a 200 day moving average of $17.19. The company has a current ratio of 18.55, a quick ratio of 18.55 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -4.69 and a beta of 1.10.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The business had revenue of $0.09 million for the quarter, compared to the consensus estimate 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, equities analysts expect that Viridian Therapeutics will post -4.04 EPS for the current fiscal year.

Insider Transactions at Viridian Therapeutics

In related news, COO Thomas W. Beetham bought 5,000 shares of the business's stock in a transaction that occurred on Friday, September 27th. The stock was acquired at an average price of $23.41 per share, for a total transaction of $117,050.00. Following the transaction, the chief operating officer now directly owns 6,000 shares of the company's stock, valued at $140,460. This represents a 500.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Stephen F. Mahoney acquired 21,400 shares of the company's stock in a transaction on Friday, September 27th. The shares were bought at an average price of $23.33 per share, with a total value of $499,262.00. Following the completion of the purchase, the chief executive officer now directly owns 21,400 shares of the company's stock, valued at approximately $499,262. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 1,626,400 shares of company stock valued at $30,616,312. 0.65% of the stock is owned by corporate insiders.

Institutional Trading of Viridian Therapeutics

Several large investors have recently added to or reduced their stakes in the company. FMR LLC grew its holdings in Viridian Therapeutics by 16.8% during the 3rd quarter. FMR LLC now owns 11,183,478 shares of the company's stock worth $254,424,000 after acquiring an additional 1,610,130 shares during the last quarter. Maverick Capital Ltd. increased its holdings in shares of Viridian Therapeutics by 22.9% in the second quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company's stock valued at $43,036,000 after purchasing an additional 615,531 shares in the last quarter. Vanguard Group Inc. raised its position in Viridian Therapeutics by 7.8% in the 1st quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company's stock worth $56,632,000 after purchasing an additional 233,331 shares during the last quarter. Novo Holdings A S lifted its holdings in Viridian Therapeutics by 19.3% during the 3rd quarter. Novo Holdings A S now owns 2,385,000 shares of the company's stock worth $54,259,000 after buying an additional 385,000 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Viridian Therapeutics by 5.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,493,311 shares of the company's stock valued at $33,979,000 after buying an additional 81,951 shares during the last quarter.

Viridian Therapeutics Company Profile

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.