Viridian Therapeutics, Inc. (NASDAQ:VRDN) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Viridian Therapeutics, Inc. (NASDAQ:VRDN) has been given a consensus rating of “Moderate Buy” by the twelve analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and eleven have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $38.92.

Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada boosted their price target on shares of Viridian Therapeutics from $36.00 to $38.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 22nd. Wall Street Zen downgraded shares of Viridian Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Sunday, October 4th. Weiss Ratings upgraded shares of Viridian Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 14th. Finally, Truist Financial lifted their price objective on shares of Viridian Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, August 7th.

Insiders Place Their Bets

In other Viridian Therapeutics news, insider Jennifer Tousignant sold 14,212 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $24.50, for a total transaction of $348,194.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Viridian Therapeutics

Several institutional investors have recently modified their holdings of the stock. ProShare Advisors LLC raised its stake in shares of Viridian Therapeutics by 6.6% in the third quarter. ProShare Advisors LLC now owns 12,609 shares of the company’s stock valued at $260,000 after acquiring an additional 784 shares during the period. AMI Asset Management Corp purchased a new position in shares of Viridian Therapeutics during the 3rd quarter worth about $1,029,000. Integrated Wealth Concepts LLC purchased a new position in shares of Viridian Therapeutics during the 2nd quarter worth about $33,000. Squarepoint Ops LLC boosted its stake in shares of Viridian Therapeutics by 303.0% during the 2nd quarter. Squarepoint Ops LLC now owns 176,955 shares of the company’s stock worth $3,251,000 after purchasing an additional 133,046 shares during the period. Finally, Arizona State Retirement System grew its holdings in Viridian Therapeutics by 19.2% during the 2nd quarter. Arizona State Retirement System now owns 21,330 shares of the company’s stock valued at $392,000 after purchasing an additional 3,431 shares during the last quarter.

Viridian Therapeutics Price Performance

Shares of Viridian Therapeutics stock opened at $24.67 on Friday. The firm has a market cap of $2.79 billion, a PE ratio of -7.32 and a beta of 1.11. The stock has a 50 day moving average of $21.66 and a 200 day moving average of $21.95. The company has a current ratio of 16.95, a quick ratio of 16.95 and a debt-to-equity ratio of 0.43. Viridian Therapeutics has a 12 month low of $13.18 and a 12 month high of $34.29.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings data on Thursday, August 6th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.02). The firm had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.06 million. Viridian Therapeutics had a negative return on equity of 72.97% and a negative net margin of 505.86%. On average, research analysts expect that Viridian Therapeutics will post -4.07 EPS for the current fiscal year.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious autoimmune diseases. The company’s lead research area is thyroid eye disease (TED), a debilitating condition that can cause eye inflammation, swelling, pain and vision-related complications.

Viridian’s pipeline is centered on antibodies designed to inhibit the insulin-like growth factor-1 receptor (IGF-1R), a target associated with TED. Its investigational therapies include veligrotug (VRDN-001), an intravenous treatment candidate, and VRDN-003, a subcutaneous formulation being developed to provide a more convenient administration option.