BTIG Research Reiterates Buy Rating for Viridian Therapeutics (NASDAQ:VRDN)

Viridian Therapeutics (NASDAQ:VRDN)‘s stock had its “buy” rating restated by equities researchers at BTIG Research in a research note issued on Tuesday,Benzinga reports. They presently have a $61.00 price objective on the stock. BTIG Research’s price objective indicates a potential upside of 163.50% from the company’s previous close.

VRDN has been the topic of a number of other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viridian Therapeutics in a report on Wednesday, October 8th. Oppenheimer boosted their price objective on shares of Viridian Therapeutics from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Royal Bank Of Canada cut their price objective on shares of Viridian Therapeutics from $45.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, August 7th. Needham & Company LLC cut their price objective on shares of Viridian Therapeutics from $36.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Finally, Jefferies Financial Group initiated coverage on shares of Viridian Therapeutics in a research note on Monday, August 25th. They issued a “buy” rating and a $44.00 target price on the stock. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Viridian Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $38.22.

Viridian Therapeutics Stock Down 2.0%

Shares of Viridian Therapeutics stock opened at $23.15 on Tuesday. The company has a fifty day moving average price of $20.75 and a 200 day moving average price of $17.23. The company has a current ratio of 11.01, a quick ratio of 11.01 and a debt-to-equity ratio of 0.04. Viridian Therapeutics has a twelve month low of $9.90 and a twelve month high of $27.20. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -6.04 and a beta of 0.49.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($1.00) EPS for the quarter, hitting analysts’ consensus estimates of ($1.00). Viridian Therapeutics had a negative net margin of 112,806.88% and a negative return on equity of 78.95%. The firm had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.05 million. During the same quarter in the previous year, the business posted ($0.81) EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. Equities research analysts forecast that Viridian Therapeutics will post -4.03 earnings per share for the current fiscal year.

Insider Activity at Viridian Therapeutics

In other news, Director Fairmount Funds Management Llc purchased 454,545 shares of the company’s stock in a transaction on Thursday, October 23rd. The shares were bought at an average price of $22.00 per share, for a total transaction of $9,999,990.00. Following the completion of the purchase, the director owned 3,914,458 shares of the company’s stock, valued at $86,118,076. This trade represents a 13.14% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.58% of the company’s stock.

Institutional Investors Weigh In On Viridian Therapeutics

Several large investors have recently made changes to their positions in the company. Amalgamated Bank increased its stake in shares of Viridian Therapeutics by 49.7% in the first quarter. Amalgamated Bank now owns 2,531 shares of the company’s stock valued at $34,000 after purchasing an additional 840 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Viridian Therapeutics by 1.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company’s stock valued at $669,000 after purchasing an additional 876 shares during the period. Knights of Columbus Asset Advisors LLC increased its stake in shares of Viridian Therapeutics by 2.4% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 59,410 shares of the company’s stock valued at $1,282,000 after purchasing an additional 1,386 shares during the period. Swiss National Bank increased its stake in shares of Viridian Therapeutics by 1.3% during the second quarter. Swiss National Bank now owns 108,900 shares of the company’s stock valued at $1,522,000 after acquiring an additional 1,400 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in shares of Viridian Therapeutics by 332.1% during the third quarter. Farther Finance Advisors LLC now owns 1,940 shares of the company’s stock valued at $42,000 after acquiring an additional 1,491 shares during the period.

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.