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

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have received an average rating of “Moderate Buy” from the twelve analysts that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $35.70.

Several brokerages have recently issued reports on VRDN. Wells Fargo & Company restated an “equal weight” rating and issued a $27.00 price objective (down from $37.00) on shares of Viridian Therapeutics in a research note on Thursday, December 19th. HC Wainwright reaffirmed a “buy” rating and set a $34.00 price objective on shares of Viridian Therapeutics in a research report on Monday, December 16th. TD Cowen started coverage on Viridian Therapeutics in a research report on Monday, November 25th. They issued a “buy” rating for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 target price on shares of Viridian Therapeutics in a report on Tuesday, January 7th. Finally, Royal Bank of Canada increased their price target on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th.

Viridian Therapeutics Trading Down 3.5 %

Shares of NASDAQ VRDN opened at $19.38 on Wednesday. The company has a market cap of $1.54 billion, a PE ratio of -4.50 and a beta of 1.13. The firm’s 50 day moving average price is $19.41 and its 200-day moving average price is $19.49. Viridian Therapeutics has a 52-week low of $11.40 and a 52-week high of $27.20. The company has a debt-to-equity ratio of 0.04, a quick ratio of 18.55 and a current ratio of 18.55.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The company had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.08 million. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. On average, equities research analysts expect that Viridian Therapeutics will post -4.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in VRDN. R Squared Ltd acquired a new stake in Viridian Therapeutics in the 4th quarter valued at about $26,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Viridian Therapeutics in the third quarter valued at approximately $149,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Viridian Therapeutics during the 3rd quarter worth approximately $208,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Viridian Therapeutics by 17.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,997 shares of the company’s stock worth $318,000 after purchasing an additional 2,036 shares during the last quarter. Finally, AlphaCentric Advisors LLC lifted its stake in Viridian Therapeutics by 20.0% in the 3rd quarter. AlphaCentric Advisors LLC now owns 15,000 shares of the company’s stock valued at $341,000 after buying an additional 2,500 shares in the last quarter.

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.