Viridian Therapeutics (NASDAQ:VRDN) Price Target Raised to $36.00 at Oppenheimer

Viridian Therapeutics (NASDAQ:VRDN) had its price objective raised by Oppenheimer from $32.00 to $36.00 in a research note published on Tuesday, Marketbeat.com reports. The brokerage currently has an outperform rating on the stock.

Several other equities research analysts also recently issued reports on the company. Wells Fargo & Company dropped their target price on Viridian Therapeutics from $27.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 7th. Royal Bank Of Canada dropped their target price on Viridian Therapeutics from $45.00 to $41.00 and set an “outperform” rating on the stock in a research report on Thursday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Viridian Therapeutics in a research report on Wednesday, October 8th. Needham & Company LLC dropped their target price on Viridian Therapeutics from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Finally, Jefferies Financial Group assumed coverage on Viridian Therapeutics in a research report on Monday, August 25th. They set a “buy” rating and a $44.00 target price on the stock. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.38.

Viridian Therapeutics Price Performance

Shares of NASDAQ VRDN opened at $24.02 on Tuesday. The stock has a fifty day simple moving average of $19.95 and a two-hundred day simple moving average of $16.48. Viridian Therapeutics has a 1-year low of $9.90 and a 1-year high of $27.20. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of -6.27 and a beta of 0.49. 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 (NASDAQ:VRDN) last posted its earnings results on Wednesday, August 6th. The company reported ($1.00) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($1.00). The firm had revenue of $0.08 million for the quarter, compared to the consensus estimate of $0.05 million. Viridian Therapeutics had a negative return on equity of 78.95% and a negative net margin of 112,806.88%.The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.81) earnings per share. Analysts anticipate that Viridian Therapeutics will post -4.03 earnings per share for the current year.

Institutional Investors Weigh In On Viridian Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Commodore Capital LP raised its position in shares of Viridian Therapeutics by 35.4% in the second quarter. Commodore Capital LP now owns 4,875,000 shares of the company’s stock worth $68,152,000 after buying an additional 1,275,000 shares in the last quarter. Maverick Capital Ltd. raised its position in Viridian Therapeutics by 9.5% during the second quarter. Maverick Capital Ltd. now owns 2,257,010 shares of the company’s stock valued at $31,553,000 after purchasing an additional 195,736 shares in the last quarter. Paradigm Biocapital Advisors LP raised its position in Viridian Therapeutics by 15.1% during the first quarter. Paradigm Biocapital Advisors LP now owns 2,095,079 shares of the company’s stock valued at $28,242,000 after purchasing an additional 275,000 shares in the last quarter. Geode Capital Management LLC raised its position in Viridian Therapeutics by 1.2% during the second quarter. Geode Capital Management LLC now owns 1,740,614 shares of the company’s stock valued at $24,337,000 after purchasing an additional 20,089 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Viridian Therapeutics by 33.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,231,092 shares of the company’s stock valued at $16,595,000 after purchasing an additional 310,998 shares in the last quarter.

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.