Viridian Therapeutics, Inc. (NASDAQ:VRDN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Viridian Therapeutics, Inc. (NASDAQ:VRDN) has received a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $36.33.

A number of research analysts recently issued reports on the company. Wedbush restated an “outperform” rating and set a $42.00 price objective on shares of Viridian Therapeutics in a research report on Monday, July 29th. HC Wainwright upped their price target on shares of Viridian Therapeutics from $27.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price objective on shares of Viridian Therapeutics in a research report on Wednesday, November 13th. Royal Bank of Canada restated an “outperform” rating and issued a $44.00 target price on shares of Viridian Therapeutics in a research report on Thursday, September 19th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $28.00 price target (down previously from $31.00) on shares of Viridian Therapeutics in a report on Monday, August 12th.

Insider Buying and Selling at Viridian Therapeutics

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc acquired 1,600,000 shares of Viridian Therapeutics stock in a transaction dated Friday, September 13th. The stock was bought at an average price of $18.75 per share, for a total transaction of $30,000,000.00. Following the transaction, the director now owns 3,445,813 shares in the company, valued at approximately $64,608,993.75. This trade represents a 86.68 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Stephen F. Mahoney acquired 21,400 shares of the stock in a transaction dated Friday, September 27th. The stock was acquired at an average cost of $23.33 per share, for a total transaction of $499,262.00. Following the purchase, the chief executive officer now directly owns 21,400 shares in the company, valued at approximately $499,262. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 1,626,400 shares of company stock valued at $30,616,312. 0.65% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Viridian Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of VRDN. FMR LLC raised 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 buying an additional 1,610,130 shares during the period. Maverick Capital Ltd. raised its holdings in shares of Viridian Therapeutics by 22.9% during the second quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock valued at $43,036,000 after acquiring an additional 615,531 shares during the period. Vanguard Group Inc. lifted its position in shares of Viridian Therapeutics by 7.8% in the 1st quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company’s stock valued at $56,632,000 after acquiring an additional 233,331 shares in the last quarter. Novo Holdings A S boosted its stake in Viridian Therapeutics by 19.3% in the 3rd quarter. Novo Holdings A S now owns 2,385,000 shares of the company’s stock worth $54,259,000 after purchasing an additional 385,000 shares during the period. Finally, Geode Capital Management LLC grew its position in Viridian Therapeutics by 5.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,493,311 shares of the company’s stock worth $33,979,000 after purchasing an additional 81,951 shares in the last quarter.

Viridian Therapeutics Stock Down 0.9 %

VRDN stock opened at $19.62 on Friday. The firm has a fifty day moving average price of $22.77 and a two-hundred day moving average price of $17.13. The company has a debt-to-equity ratio of 0.04, a current ratio of 18.55 and a quick ratio of 18.55. Viridian Therapeutics has a 1-year low of $11.40 and a 1-year high of $27.20. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -4.55 and a beta of 1.10.

Viridian Therapeutics (NASDAQ:VRDN) last released 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). Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. The business had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.08 million. Research analysts predict that Viridian Therapeutics will post -4.04 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.