Viridian Therapeutics, Inc. (NASDAQ:VRDN) Stock Has Average Price Target of $38.69 According to Brokerages

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have been given an average rating of “Moderate Buy” by the thirteen analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and twelve have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $38.69.

A number of brokerages have recently weighed in on VRDN. Royal Bank Of Canada raised their target price on Viridian Therapeutics from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Tuesday, September 22nd. Wells Fargo & Company upgraded shares of Viridian Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $20.00 to $31.00 in a research report on Monday, June 29th. Wedbush increased their price objective on shares of Viridian Therapeutics from $32.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday, June 30th. Wall Street Zen upgraded shares of Viridian Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 26th. Finally, Weiss Ratings raised shares of Viridian Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 14th.

Insider Activity at Viridian Therapeutics

In other news, insider Jennifer Tousignant sold 14,212 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $24.50, for a total transaction of $348,194.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of VRDN. Perceptive Advisors LLC lifted its stake in shares of Viridian Therapeutics by 108.1% during the fourth quarter. Perceptive Advisors LLC now owns 3,042,703 shares of the company’s stock valued at $94,689,000 after acquiring an additional 1,580,303 shares during the period. Avoro Capital Advisors LLC bought a new position in Viridian Therapeutics in the fourth quarter valued at about $46,680,000. Parkman Healthcare Partners LLC acquired a new stake in Viridian Therapeutics in the second quarter worth about $25,306,000. Rice Hall James & Associates LLC acquired a new stake in Viridian Therapeutics in the second quarter worth about $21,601,000. Finally, Elmind Capital LP acquired a new stake in Viridian Therapeutics in the second quarter worth about $18,093,182.

Viridian Therapeutics Stock Up 2.2%

NASDAQ VRDN opened at $19.40 on Wednesday. The firm has a market cap of $2.20 billion, a PE ratio of -5.76 and a beta of 1.11. Viridian Therapeutics has a one year low of $13.18 and a one year high of $34.29. The stock’s 50 day simple moving average is $22.03 and its 200 day simple moving average is $19.49. 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 (NASDAQ:VRDN) last released its quarterly earnings results on Thursday, August 6th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.02). The business 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%. As a group, sell-side analysts forecast that Viridian Therapeutics will post -4.07 earnings per share for the current fiscal year.

About Viridian Therapeutics

Viridian Therapeutics, Inc (NASDAQ:VRDN) is a clinical-stage biotechnology company focused on developing treatments for autoimmune and inflammatory diseases. The company’s primary research centers on antibody-based medicines designed to target the insulin-like growth factor 1 receptor (IGF-1R), a biological pathway associated with thyroid eye disease (TED).

Viridian’s pipeline includes veligrotug, an investigational monoclonal antibody being developed for TED, as well as additional drug candidates intended to provide alternative dosing options and potentially address broader autoimmune conditions.