Viridian Therapeutics, Inc. (NASDAQ:VRDN) Stock Has Average Target Price of $38.69 According to Analysts

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have earned an average recommendation of “Moderate Buy” from the thirteen analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and twelve have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $38.69.

Several research analysts have issued reports on VRDN shares. Wall Street Zen lowered shares of Viridian Therapeutics from a “sell” rating to a “strong sell” rating in a report on Sunday. 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. Wedbush lifted their target price on shares of Viridian Therapeutics from $32.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 30th. The Goldman Sachs Group restated a “buy” rating and issued a $39.00 target price on shares of Viridian Therapeutics in a report on Tuesday, June 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 price target on shares of Viridian Therapeutics in a research report on Monday, June 29th.

Insider Activity

In related news, insider Jennifer Tousignant sold 14,212 shares of the company’s stock in a transaction dated 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 document filed with the SEC, which is accessible through this hyperlink. 2.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Viridian Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its position in shares of Viridian Therapeutics by 1.6% during the 2nd quarter. Wellington Management Group LLP now owns 3,128,362 shares of the company’s stock worth $57,468,000 after buying an additional 49,808 shares during the period. Perceptive Advisors LLC lifted its position in shares of Viridian Therapeutics by 108.1% during the 4th quarter. Perceptive Advisors LLC now owns 3,042,703 shares of the company’s stock valued at $94,689,000 after acquiring an additional 1,580,303 shares during the period. Baker BROS. Advisors LP boosted its stake in Viridian Therapeutics by 13.0% during the fourth quarter. Baker BROS. Advisors LP now owns 1,971,678 shares of the company’s stock worth $61,359,000 after acquiring an additional 227,272 shares in the last quarter. Avoro Capital Advisors LLC bought a new position in Viridian Therapeutics during the fourth quarter worth $46,680,000. Finally, Parkman Healthcare Partners LLC acquired a new stake in Viridian Therapeutics in the second quarter worth $25,306,000.

Viridian Therapeutics Trading Down 4.1%

NASDAQ VRDN opened at $18.22 on Wednesday. The firm has a market capitalization of $2.06 billion, a PE ratio of -5.41 and a beta of 1.11. The business’s 50-day moving average price is $21.99 and its two-hundred day moving average price is $19.30. 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 issued 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). Viridian Therapeutics had a negative return on equity of 72.97% and a negative net margin of 505.86%.The company had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.06 million. On average, analysts expect that Viridian Therapeutics will post -4.07 EPS for the current year.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc (NASDAQ:VRDN) is a clinical-stage biotechnology company focused on developing treatments for autoimmune and inflammatory diseases. The company’s primary research centers on antibody-based medicines designed to target the insulin-like growth factor 1 receptor (IGF-1R), a biological pathway associated with thyroid eye disease (TED).

Viridian’s pipeline includes veligrotug, an investigational monoclonal antibody being developed for TED, as well as additional drug candidates intended to provide alternative dosing options and potentially address broader autoimmune conditions.