Viridian Therapeutics (NASDAQ:VRDN) Coverage Initiated by Analysts at TD Cowen

TD Cowen assumed coverage on shares of Viridian Therapeutics (NASDAQ:VRDN) in a research report sent to investors on Monday, Marketbeat Ratings reports. The firm issued a buy rating on the stock.

Other research analysts have also issued reports about the company. The Goldman Sachs Group upped their price objective on Viridian Therapeutics from $25.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, September 12th. HC Wainwright upped their price objective on Viridian Therapeutics from $27.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $44.00 target price on shares of Viridian Therapeutics in a research report on Thursday, September 19th. Needham & Company LLC reiterated a “buy” rating and set a $38.00 target price on shares of Viridian Therapeutics in a research report on Wednesday, November 13th. Finally, Wedbush reiterated an “outperform” rating and set a $42.00 target price on shares of Viridian Therapeutics in a research report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Viridian Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $36.33.

Viridian Therapeutics Stock Performance

Shares of NASDAQ VRDN opened at $21.03 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 18.55 and a quick ratio of 18.55. The stock’s fifty day moving average price is $22.72 and its two-hundred day moving average price is $17.24. Viridian Therapeutics has a one year low of $11.40 and a one year high of $27.20. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of -4.88 and a beta of 1.10.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings data 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 firm had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.08 million. On average, equities analysts forecast that Viridian Therapeutics will post -4.04 EPS for the current year.

Insider Buying and Selling

In other Viridian Therapeutics news, COO Thomas W. Beetham acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was acquired at an average cost of $23.41 per share, for a total transaction of $117,050.00. Following the transaction, the chief operating officer now directly owns 6,000 shares in the company, valued at $140,460. This represents a 500.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Stephen F. Mahoney acquired 21,400 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were acquired at an average price of $23.33 per share, with a total value of $499,262.00. Following the completion of the transaction, the chief executive officer now owns 21,400 shares in the company, valued at $499,262. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 1,626,400 shares of company stock worth $30,616,312 in the last ninety days. 0.65% of the stock is owned by insiders.

Hedge Funds Weigh In On Viridian Therapeutics

Several large investors have recently bought and sold shares of VRDN. Quest Partners LLC raised its position in Viridian Therapeutics by 344.0% in the second quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock valued at $79,000 after purchasing an additional 4,692 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Viridian Therapeutics in the third quarter valued at about $149,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Viridian Therapeutics by 24.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock valued at $156,000 after purchasing an additional 2,359 shares during the last quarter. AlphaCentric Advisors LLC raised its position in Viridian Therapeutics by 108.3% in the second quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock valued at $163,000 after purchasing an additional 6,500 shares during the last quarter. Finally, Arizona State Retirement System raised its position in Viridian Therapeutics by 14.7% in the second quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock valued at $171,000 after purchasing an additional 1,688 shares during 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.