Viridian Therapeutics (NASDAQ:VRDN) Price Target Increased to $44.00 by Analysts at Royal Bank of Canada

Viridian Therapeutics (NASDAQ:VRDN) had its target price raised by Royal Bank of Canada from $35.00 to $44.00 in a report published on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other analysts also recently issued research reports about the company. Oppenheimer restated an outperform rating and issued a $28.00 price target (down previously from $31.00) on shares of Viridian Therapeutics in a research note on Monday, August 12th. Wolfe Research began coverage on shares of Viridian Therapeutics in a research report on Tuesday, June 11th. They set an outperform rating and a $29.00 price objective on the stock. HC Wainwright reiterated a buy rating and issued a $27.00 price target on shares of Viridian Therapeutics in a research report on Tuesday, September 10th. Wedbush reiterated an outperform rating and issued a $42.00 price target on shares of Viridian Therapeutics in a research note on Monday, July 29th. Finally, Needham & Company LLC increased their target price on Viridian Therapeutics from $30.00 to $38.00 and gave the company a buy rating in a research report on Wednesday, September 11th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $35.30.

Viridian Therapeutics Stock Performance

NASDAQ:VRDN opened at $21.56 on Friday. The business’s 50-day moving average price is $15.58 and its two-hundred day moving average price is $15.00. The company has a quick ratio of 15.82, a current ratio of 15.82 and a debt-to-equity ratio of 0.05. The stock has a market cap of $1.38 billion, a P/E ratio of -4.79 and a beta of 1.03. Viridian Therapeutics has a twelve month low of $10.93 and a twelve month high of $24.18.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.15). The business had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.09 million. Viridian Therapeutics had a negative net margin of 79,185.77% and a negative return on equity of 83.18%. As a group, equities analysts predict that Viridian Therapeutics will post -3.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. RTW Investments LP acquired a new stake in Viridian Therapeutics in the 4th quarter valued at about $13,195,000. Perceptive Advisors LLC lifted its position in Viridian Therapeutics by 71.1% in the 4th quarter. Perceptive Advisors LLC now owns 1,730,212 shares of the company’s stock valued at $37,684,000 after acquiring an additional 719,007 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in Viridian Therapeutics by 62.9% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 178,855 shares of the company’s stock worth $2,327,000 after acquiring an additional 69,035 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Viridian Therapeutics by 7.8% in the first quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company’s stock valued at $56,632,000 after buying an additional 233,331 shares in the last quarter. Finally, Candriam S.C.A. boosted its holdings in shares of Viridian Therapeutics by 167.8% during the 2nd quarter. Candriam S.C.A. now owns 749,804 shares of the company’s stock worth $9,754,000 after buying an additional 469,804 shares during the period.

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.