Viridian Therapeutics’ (VRDN) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Viridian Therapeutics (NASDAQ:VRDN) in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a $44.00 price target on the stock.

A number of other research analysts have also commented on VRDN. BTIG Research upped their price target on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. TD Cowen assumed coverage on shares of Viridian Therapeutics in a research note on Monday, November 25th. They issued a “buy” rating on the stock. Oppenheimer reiterated 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. HC Wainwright increased their target price on shares of Viridian Therapeutics from $27.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Needham & Company LLC restated a “buy” rating and set a $38.00 target price on shares of Viridian Therapeutics in a research report on Monday, November 25th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.33.

Viridian Therapeutics Stock Down 1.7 %

Shares of VRDN stock opened at $19.63 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 18.55 and a current ratio of 18.55. The firm’s 50-day moving average is $22.67 and its 200-day moving average is $17.56. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -4.55 and a beta of 1.04. Viridian Therapeutics has a 52-week low of $11.40 and a 52-week high of $27.20.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. The company had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.08 million. Sell-side analysts predict that Viridian Therapeutics will post -4.03 EPS for the current year.

Insider Activity at Viridian Therapeutics

In related news, CEO Stephen F. Mahoney acquired 21,400 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was acquired at an average price of $23.33 per share, with a total value of $499,262.00. Following the purchase, the chief executive officer now directly owns 21,400 shares in the company, valued at approximately $499,262. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Fairmount Funds Management Llc acquired 1,600,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was bought at an average cost of $18.75 per share, with a total value of $30,000,000.00. Following the purchase, the director now owns 3,445,813 shares in the company, valued at $64,608,993.75. The trade was a 86.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 1,626,400 shares of company stock valued at $30,616,312 in the last quarter. Insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Viridian Therapeutics

Large investors have recently modified their holdings of the business. Quest Partners LLC increased its position in shares of Viridian Therapeutics by 344.0% during the second quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock worth $79,000 after buying an additional 4,692 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Viridian Therapeutics during the third quarter worth $149,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Viridian Therapeutics by 24.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock worth $156,000 after buying an additional 2,359 shares during the period. AlphaCentric Advisors LLC increased its position in shares of Viridian Therapeutics by 108.3% during the second quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock worth $163,000 after buying an additional 6,500 shares during the period. Finally, Arizona State Retirement System increased its position in shares of Viridian Therapeutics by 14.7% during the second quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock worth $171,000 after buying an additional 1,688 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.