Viridian Therapeutics (NASDAQ:VRDN) Trading Up 6.3% – Still a Buy?

Viridian Therapeutics, Inc. (NASDAQ:VRDN)’s stock price was up 6.3% on Friday . The stock traded as high as $18.06 and last traded at $18.14. Approximately 390,316 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 1,445,984 shares. The stock had previously closed at $17.06.

Analysts Set New Price Targets

VRDN has been the subject of a number of research analyst reports. TD Cowen assumed coverage on Viridian Therapeutics in a research report on Monday, November 25th. They set a “buy” rating for the company. Wells Fargo & Company reissued an “equal weight” rating and issued a $27.00 price target (down previously from $37.00) on shares of Viridian Therapeutics in a report on Thursday, December 19th. Royal Bank of Canada lifted their price objective on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. BTIG Research increased their target price on Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $34.00 price target on shares of Viridian Therapeutics in a research note on Monday, December 16th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.70.

Viridian Therapeutics Price Performance

The firm has a fifty day moving average of $19.88 and a two-hundred day moving average of $19.05. The company has a current ratio of 18.55, a quick ratio of 18.55 and a debt-to-equity ratio of 0.04.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) earnings per share 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 for the quarter, compared to analysts’ expectations of $0.08 million. As a group, equities research analysts expect that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Viridian Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Great Point Partners LLC boosted its holdings in shares of Viridian Therapeutics by 50.0% during the third quarter. Great Point Partners LLC now owns 750,000 shares of the company’s stock worth $17,062,000 after purchasing an additional 250,000 shares during the period. Lord Abbett & CO. LLC purchased a new position in shares of Viridian Therapeutics during the third quarter valued at approximately $8,917,000. Rhumbline Advisers boosted its holdings in Viridian Therapeutics by 34.5% in the second quarter. Rhumbline Advisers now owns 90,826 shares of the company’s stock worth $1,182,000 after acquiring an additional 23,305 shares in the last quarter. Novo Holdings A S boosted its stake in Viridian Therapeutics by 19.3% in the 3rd quarter. Novo Holdings A S now owns 2,385,000 shares of the company’s stock worth $54,259,000 after purchasing an additional 385,000 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Viridian Therapeutics by 218.5% in the third quarter. JPMorgan Chase & Co. now owns 400,351 shares of the company’s stock worth $9,108,000 after buying an additional 274,641 shares in the last quarter.

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.