Viridian Therapeutics (NASDAQ:VRDN) Price Target Raised to $47.00 at Royal Bank of Canada

Viridian Therapeutics (NASDAQ:VRDN - Free Report) had its price objective increased by Royal Bank of Canada from $44.00 to $47.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also issued reports on VRDN. Needham & Company LLC restated a "buy" rating and set a $38.00 price target on shares of Viridian Therapeutics in a research note on Monday, November 25th. HC Wainwright reaffirmed a "buy" rating and set a $34.00 target price on shares of Viridian Therapeutics in a report on Monday. The Goldman Sachs Group raised their price objective on Viridian Therapeutics from $25.00 to $31.00 and gave the company a "buy" rating in a report on Thursday, September 12th. TD Cowen started coverage on Viridian Therapeutics in a research report on Monday, November 25th. They set a "buy" rating on the stock. Finally, BTIG Research increased their price objective on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.67.

Viridian Therapeutics Price Performance

VRDN stock traded down $0.72 during trading on Tuesday, hitting $20.82. 2,078,620 shares of the company's stock traded hands, compared to its average volume of 1,150,365. Viridian Therapeutics has a 52 week low of $11.40 and a 52 week high of $27.20. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -4.83 and a beta of 1.04. The business has a fifty day simple moving average of $21.95 and a 200 day simple moving average of $18.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 18.55 and a current ratio of 18.55.

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

Insider Activity

In other Viridian Therapeutics news, COO Thomas W. Beetham acquired 5,000 shares of the stock in a transaction on Friday, September 27th. The shares were bought at an average price of $23.41 per share, with a total value of $117,050.00. Following the acquisition, the chief operating officer now owns 6,000 shares of the company's stock, valued at $140,460. This trade represents a 500.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Stephen F. Mahoney bought 21,400 shares of the company's stock in a transaction on Friday, September 27th. The shares were acquired at an average price of $23.33 per share, for a total transaction of $499,262.00. Following the transaction, the chief executive officer now directly owns 21,400 shares in the company, valued at $499,262. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.65% of the company's stock.

Institutional Trading of Viridian Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position in shares of Viridian Therapeutics by 16.8% in the third quarter. FMR LLC now owns 11,183,478 shares of the company's stock valued at $254,424,000 after buying an additional 1,610,130 shares in the last quarter. Novo Holdings A S increased its holdings in Viridian Therapeutics by 81.8% during the 2nd quarter. Novo Holdings A S now owns 2,000,000 shares of the company's stock valued at $26,020,000 after acquiring an additional 900,000 shares in the last quarter. Maverick Capital Ltd. raised its position in Viridian Therapeutics by 22.9% during the second quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company's stock worth $43,036,000 after acquiring an additional 615,531 shares during the last quarter. Candriam S.C.A. lifted its holdings in shares of Viridian Therapeutics by 167.8% in the second quarter. Candriam S.C.A. now owns 749,804 shares of the company's stock valued at $9,754,000 after purchasing an additional 469,804 shares in the last quarter. Finally, Parkman Healthcare Partners LLC acquired a new stake in shares of Viridian Therapeutics in the third quarter valued at approximately $9,669,000.

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.