Royal Bank of Canada Increases Viridian Therapeutics (NASDAQ:VRDN) Price Target to $44.00

Viridian Therapeutics (NASDAQ:VRDN) had its price objective boosted by Royal Bank of Canada from $35.00 to $44.00 in a research report released on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts also recently issued reports about the stock. HC Wainwright restated a buy rating and issued a $27.00 target price on shares of Viridian Therapeutics in a research note on Tuesday, September 10th. Needham & Company LLC upped their price objective on shares of Viridian Therapeutics from $30.00 to $38.00 and gave the stock a buy rating in a research note on Wednesday, September 11th. BTIG Research raised their target price on shares of Viridian Therapeutics from $46.00 to $56.00 and gave the company a buy rating in a research report on Tuesday, September 10th. Wedbush reissued an outperform rating and set a $42.00 price target on shares of Viridian Therapeutics in a research report on Monday, July 29th. Finally, Oppenheimer reissued an outperform rating and set a $28.00 target price (down previously from $31.00) on shares of Viridian Therapeutics in a research report on Monday, August 12th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $35.30.

Viridian Therapeutics Price Performance

Shares of VRDN opened at $21.56 on Friday. Viridian Therapeutics has a twelve month low of $10.93 and a twelve month high of $24.18. The firm has a 50 day moving average of $15.58 and a 200 day moving average of $15.00. The company has a market capitalization of $1.38 billion, a P/E ratio of -4.79 and a beta of 1.03. The company has a quick ratio of 15.82, a current ratio of 15.82 and a debt-to-equity ratio of 0.05.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates 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 research analysts anticipate that Viridian Therapeutics will post -3.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Viridian Therapeutics

Several hedge funds have recently made changes to their positions in the business. Maverick Capital Ltd. increased its position in Viridian Therapeutics by 22.9% during the 2nd quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock worth $43,036,000 after purchasing an additional 615,531 shares in the last quarter. Vanguard Group Inc. increased its position 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 worth $56,632,000 after acquiring an additional 233,331 shares in the last quarter. Novo Holdings A S raised its stake in shares of Viridian Therapeutics by 81.8% in the 2nd quarter. Novo Holdings A S now owns 2,000,000 shares of the company’s stock valued at $26,020,000 after acquiring an additional 900,000 shares during the period. Perceptive Advisors LLC raised its stake in shares of 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 during the period. Finally, Vestal Point Capital LP acquired a new position in shares of Viridian Therapeutics during the 4th quarter valued at $21,780,000.

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.