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

Royal Bank of Canada reaffirmed their outperform rating on shares of Viridian Therapeutics (NASDAQ:VRDN) in a research report report published on Thursday, Benzinga reports. Royal Bank of Canada currently has a $44.00 price objective on the stock.

Other research analysts have also recently issued reports about the company. HC Wainwright reaffirmed a buy rating and issued a $27.00 price target on shares of Viridian Therapeutics in a report on Tuesday, September 10th. Oppenheimer restated an outperform rating and issued a $28.00 target price (down previously from $31.00) on shares of Viridian Therapeutics in a research note on Monday, August 12th. Wolfe Research assumed coverage on shares of Viridian Therapeutics in a research report on Tuesday, June 11th. They issued an outperform rating and a $29.00 price objective on the stock. The Goldman Sachs Group raised their target price on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the company a buy rating in a research report on Thursday, September 12th. Finally, Needham & Company LLC boosted their price target on shares of Viridian Therapeutics from $30.00 to $38.00 and gave the stock a buy rating in a research report on Wednesday, September 11th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $35.30.

Viridian Therapeutics Price Performance

NASDAQ:VRDN opened at $22.30 on Thursday. The firm has a market cap of $1.42 billion, a PE ratio of -4.96 and a beta of 1.03. The company’s 50-day moving average price is $16.29 and its two-hundred day moving average price is $15.11. 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 has a 12 month low of $10.93 and a 12 month high of $24.18.

Viridian Therapeutics (NASDAQ:VRDN) last released 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). Viridian Therapeutics had a negative return on equity of 83.18% and a negative net margin of 79,185.77%. The business had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.09 million. On average, equities analysts anticipate that Viridian Therapeutics will post -3.93 EPS for the current fiscal year.

Insider Activity

In related news, Director Fairmount Funds Management Llc acquired 1,600,000 shares of the stock in a transaction on Friday, September 13th. The shares were purchased at an average price of $18.75 per share, for a total transaction of $30,000,000.00. Following the purchase, the director now directly owns 3,445,813 shares in the company, valued at $64,608,993.75. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.65% of the company’s stock.

Institutional Trading of Viridian Therapeutics

Several institutional investors have recently added to or reduced their stakes in VRDN. Ameritas Investment Partners Inc. increased its stake in Viridian Therapeutics by 19.2% in the first quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock valued at $87,000 after purchasing an additional 799 shares in the last quarter. Quest Partners LLC lifted its holdings in Viridian Therapeutics by 344.0% during 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. Principal Financial Group Inc. grew its position in shares of Viridian Therapeutics by 9.7% in the first quarter. Principal Financial Group Inc. now owns 11,915 shares of the company’s stock valued at $209,000 after purchasing an additional 1,058 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Viridian Therapeutics by 24.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock valued at $156,000 after buying an additional 2,359 shares in the last quarter. Finally, AlphaCentric Advisors LLC increased its holdings in Viridian Therapeutics by 108.3% during the 2nd quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock worth $163,000 after acquiring an additional 6,500 shares during the period.

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.