Viridian Therapeutics (NASDAQ:VRDN) Now Covered by Analysts at TD Cowen

Equities research analysts at TD Cowen began coverage on shares of Viridian Therapeutics (NASDAQ:VRDN) in a research note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage set a “buy” rating on the stock.

A number of other equities research analysts have also weighed in on the company. Oppenheimer reiterated an “outperform” rating and issued a $28.00 price objective (down from $31.00) on shares of Viridian Therapeutics in a research report on Monday, August 12th. Needham & Company LLC restated a “buy” rating and issued a $38.00 price objective on shares of Viridian Therapeutics in a report on Wednesday, November 13th. HC Wainwright lifted their target price on shares of Viridian Therapeutics from $27.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. The Goldman Sachs Group increased their price target on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Finally, Wedbush restated an “outperform” rating and issued a $42.00 price objective on shares of Viridian Therapeutics in a report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.33.

Viridian Therapeutics Price Performance

Shares of Viridian Therapeutics stock opened at $20.20 on Monday. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -4.69 and a beta of 1.10. The company has a fifty day moving average of $22.73 and a 200-day moving average of $17.19. 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) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.04). Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. The company had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.08 million. Equities research analysts expect that Viridian Therapeutics will post -4.04 EPS for the current year.

Insider Activity at Viridian Therapeutics

In other news, COO Thomas W. Beetham purchased 5,000 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were purchased at an average cost of $23.41 per share, for a total transaction of $117,050.00. Following the purchase, the chief operating officer now directly owns 6,000 shares in the company, valued at approximately $140,460. This represents a 500.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Fairmount Funds Management Llc purchased 1,600,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were purchased at an average price of $18.75 per share, with a total value of $30,000,000.00. Following the completion of the purchase, the director now owns 3,445,813 shares in the company, valued at approximately $64,608,993.75. This trade represents a 86.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 1,626,400 shares of company stock valued at $30,616,312 over the last 90 days. Corporate insiders own 0.65% of the company’s stock.

Institutional Trading of Viridian Therapeutics

Several large investors have recently added to or reduced their stakes in VRDN. Geode Capital Management LLC lifted its position in Viridian Therapeutics by 5.8% during the third quarter. Geode Capital Management LLC now owns 1,493,311 shares of the company’s stock valued at $33,979,000 after purchasing an additional 81,951 shares in the last quarter. Barclays PLC raised its stake in shares of Viridian Therapeutics by 113.1% in the third quarter. Barclays PLC now owns 125,397 shares of the company’s stock worth $2,851,000 after buying an additional 66,550 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Viridian Therapeutics during the third quarter valued at approximately $660,000. Sphera Funds Management LTD. purchased a new position in shares of Viridian Therapeutics during the 3rd quarter valued at $1,959,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Viridian Therapeutics in the third quarter worth about $788,000.

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.