Viridian Therapeutics (NASDAQ:VRDN) Earns Outperform Rating from Oppenheimer

Oppenheimer reiterated their outperform rating on shares of Viridian Therapeutics (NASDAQ:VRDN) in a research note issued to investors on Monday morning, Benzinga reports. They currently have a $28.00 price target on the stock, down from their previous price target of $31.00.

A number of other research firms have also recently commented on VRDN. Wedbush restated an outperform rating and issued a $42.00 price objective on shares of Viridian Therapeutics in a research report on Monday, July 29th. HC Wainwright restated a buy rating and issued a $27.00 price objective on shares of Viridian Therapeutics in a research report on Tuesday, July 16th. B. Riley cut shares of Viridian Therapeutics from a buy rating to a neutral rating and lowered their price objective for the company from $25.00 to $20.00 in a research report on Thursday, May 9th. LADENBURG THALM/SH SH lowered shares of Viridian Therapeutics from a buy rating to a neutral rating in a research note on Thursday, May 9th. Finally, Wolfe Research began coverage on shares of Viridian Therapeutics in a research note on Tuesday, June 11th. They issued an outperform rating and a $29.00 target price for the company. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $31.20.

Viridian Therapeutics Stock Performance

Shares of Viridian Therapeutics stock opened at $14.18 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 23.99 and a current ratio of 23.99. Viridian Therapeutics has a 52 week low of $10.93 and a 52 week high of $24.18. The firm has a fifty day moving average of $13.92 and a two-hundred day moving average of $15.47. The stock has a market capitalization of $905.00 million, a price-to-earnings ratio of -3.15 and a beta of 1.13.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings data 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 net margin of 79,185.77% and a negative return on equity of 89.20%. The firm had revenue of $0.07 million during the quarter, compared to the consensus estimate of $0.09 million. As a group, equities research analysts predict that Viridian Therapeutics will post -3.7 EPS for the current year.

Hedge Funds Weigh In On Viridian Therapeutics

A number of large investors have recently modified their holdings of VRDN. Vestal Point Capital LP acquired a new position in shares of Viridian Therapeutics during the 4th quarter worth about $21,780,000. Perceptive Advisors LLC boosted its stake in shares of Viridian Therapeutics by 71.1% during the 4th quarter. Perceptive Advisors LLC now owns 1,730,212 shares of the company’s stock worth $37,684,000 after buying an additional 719,007 shares during the last quarter. RTW Investments LP acquired a new stake in Viridian Therapeutics in the 4th quarter valued at about $13,195,000. Candriam S.C.A. lifted its stake in Viridian Therapeutics by 167.8% in the 2nd quarter. Candriam S.C.A. now owns 749,804 shares of the company’s stock valued at $9,754,000 after purchasing an additional 469,804 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Viridian Therapeutics by 7.8% in the 1st quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company’s stock valued at $56,632,000 after purchasing an additional 233,331 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.