Viridian Therapeutics (NASDAQ:VRDN) Research Coverage Started at Truist Financial

Truist Financial started coverage on shares of Viridian Therapeutics (NASDAQ:VRDN) in a report issued on Monday morning, MarketBeat.com reports. The firm issued a buy rating and a $41.00 target price on the stock.

Several other research analysts have also recently weighed in on VRDN. The Goldman Sachs Group restated a “buy” rating and issued a $40.00 price objective on shares of Viridian Therapeutics in a research report on Thursday, November 6th. Royal Bank Of Canada boosted their price target on shares of Viridian Therapeutics from $41.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Viridian Therapeutics in a research report on Wednesday, October 8th. Wells Fargo & Company dropped their price objective on shares of Viridian Therapeutics from $27.00 to $26.00 and set an “equal weight” rating for the company in a report on Thursday, August 7th. Finally, BTIG Research reissued a “buy” rating and issued a $61.00 target price on shares of Viridian Therapeutics in a research note on Tuesday, November 4th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.90.

Viridian Therapeutics Price Performance

NASDAQ:VRDN opened at $31.72 on Monday. Viridian Therapeutics has a 52-week low of $9.90 and a 52-week high of $32.54. The stock has a fifty day moving average of $24.01 and a 200 day moving average of $19.03. The company has a debt-to-equity ratio of 0.04, a quick ratio of 11.01 and a current ratio of 11.01. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of -8.28 and a beta of 0.72.

Viridian Therapeutics (NASDAQ:VRDN) last announced its earnings results on Wednesday, November 5th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.48. Viridian Therapeutics had a negative return on equity of 78.95% and a negative net margin of 112,806.88%.The business had revenue of $70.57 million for the quarter, compared to analyst estimates of $16.21 million. The firm’s quarterly revenue was up 81993.0% compared to the same quarter last year. On average, research analysts expect that Viridian Therapeutics will post -4.03 EPS for the current fiscal year.

Insider Activity at Viridian Therapeutics

In other news, Director Fairmount Funds Management Llc bought 454,545 shares of the company’s stock in a transaction dated Thursday, October 23rd. The stock was bought at an average cost of $22.00 per share, for a total transaction of $9,999,990.00. Following the completion of the acquisition, the director owned 3,914,458 shares in the company, valued at approximately $86,118,076. This trade represents a 13.14% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.58% of the company’s stock.

Institutional Investors Weigh In On Viridian Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its position in shares of Viridian Therapeutics by 0.8% in the 1st quarter. Bank of New York Mellon Corp now owns 198,177 shares of the company’s stock worth $2,671,000 after buying an additional 1,655 shares during the last quarter. J. Safra Sarasin Holding AG lifted its stake in Viridian Therapeutics by 99.4% in the first quarter. J. Safra Sarasin Holding AG now owns 72,672 shares of the company’s stock worth $980,000 after acquiring an additional 36,219 shares during the period. DCF Advisers LLC boosted its holdings in Viridian Therapeutics by 108.5% in the first quarter. DCF Advisers LLC now owns 62,029 shares of the company’s stock valued at $836,000 after acquiring an additional 32,279 shares in the last quarter. Invesco Ltd. increased its position in Viridian Therapeutics by 44.3% during the 1st quarter. Invesco Ltd. now owns 47,771 shares of the company’s stock valued at $644,000 after purchasing an additional 14,672 shares during the period. Finally, Nuveen LLC bought a new position in Viridian Therapeutics in the 1st quarter worth $3,352,000.

About Viridian Therapeutics

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.