Viridian Therapeutics, Inc. (NASDAQ:VRDN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Viridian Therapeutics, Inc. (NASDAQ:VRDN) has been assigned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $37.0714.

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price target on shares of Viridian Therapeutics from $29.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 31st. Wall Street Zen cut shares of Viridian Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Wedbush decreased their price objective on shares of Viridian Therapeutics from $37.00 to $31.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 8th. HC Wainwright decreased their price objective on shares of Viridian Therapeutics from $34.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday, March 31st. Finally, Truist Financial decreased their price objective on shares of Viridian Therapeutics from $36.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st.

Institutional Investors Weigh In On Viridian Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in VRDN. Aster Capital Management DIFC Ltd purchased a new stake in shares of Viridian Therapeutics in the 3rd quarter worth about $35,000. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Viridian Therapeutics in the 4th quarter worth about $36,000. Farther Finance Advisors LLC boosted its position in shares of Viridian Therapeutics by 332.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,940 shares of the company’s stock worth $42,000 after buying an additional 1,491 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Viridian Therapeutics by 947.7% in the 3rd quarter. Bessemer Group Inc. now owns 2,085 shares of the company’s stock worth $45,000 after buying an additional 1,886 shares in the last quarter. Finally, Larson Financial Group LLC purchased a new stake in shares of Viridian Therapeutics in the 3rd quarter worth about $52,000.

Viridian Therapeutics Stock Performance

NASDAQ:VRDN opened at $13.42 on Friday. The company has a quick ratio of 12.65, a current ratio of 12.65 and a debt-to-equity ratio of 0.08. Viridian Therapeutics has a fifty-two week low of $11.76 and a fifty-two week high of $34.29. The stock has a market cap of $1.38 billion, a PE ratio of -4.08 and a beta of 0.82. The firm’s fifty day simple moving average is $22.20 and its 200-day simple moving average is $27.01.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.18). Viridian Therapeutics had a negative return on equity of 83.25% and a negative net margin of 483.57%.The company had revenue of $0.13 million for the quarter, compared to analyst estimates of $15.75 million. Analysts expect that Viridian Therapeutics will post -3.79 earnings per share for the current fiscal year.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc (NASDAQ: VRDN) is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted antibody therapeutics for patients suffering from rare and serious diseases. The company’s lead program, VRDN-001, is a fully human monoclonal antibody that antagonizes the insulin-like growth factor-1 receptor (IGF-1R), with an initial focus on thyroid eye disease (TED). By selectively inhibiting IGF-1R signaling, VRDN-001 aims to reduce inflammation and tissue remodeling associated with TED and related disorders.

In addition to VRDN-001, Viridian is advancing a second antibody program, VRDN-002, which targets complement-mediated pathways implicated in autoimmune and inflammatory diseases.