Viridian Therapeutics (NASDAQ:VRDN) Given New $44.00 Price Target at Royal Bank of Canada

Viridian Therapeutics (NASDAQ:VRDN) had its target price lifted by equities researchers at Royal Bank of Canada from $35.00 to $44.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 100.00% from the stock’s current price.

Several other equities analysts have also issued reports on the company. The Goldman Sachs Group lifted their price target on Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday. BTIG Research upped their price objective on Viridian Therapeutics from $46.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday. Needham & Company LLC increased their price target on Viridian Therapeutics from $30.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday. Oppenheimer reissued an “outperform” rating and issued a $28.00 price target (down from $31.00) on shares of Viridian Therapeutics in a report on Monday, August 12th. Finally, Wedbush restated an “outperform” rating and issued a $42.00 target price on shares of Viridian Therapeutics in a report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.73.

Viridian Therapeutics Stock Up 6.3 %

Shares of NASDAQ VRDN traded up $1.30 during trading on Friday, hitting $22.00. The stock had a trading volume of 192,508 shares, compared to its average volume of 1,101,293. The company has a market capitalization of $1.41 billion, a PE ratio of -4.89 and a beta of 1.03. The firm has a fifty day moving average of $15.20 and a two-hundred day moving average of $15.03. The company has a debt-to-equity ratio of 0.05, a current ratio of 15.82 and a quick ratio of 15.82. Viridian Therapeutics has a 12 month low of $10.93 and a 12 month high of $24.18.

Viridian Therapeutics (NASDAQ:VRDN) last issued its earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.15). The business had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.09 million. Viridian Therapeutics had a negative return on equity of 83.18% and a negative net margin of 79,185.77%. As a group, equities research analysts forecast that Viridian Therapeutics will post -3.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Viridian Therapeutics

Several hedge funds have recently bought and sold shares of VRDN. RTW Investments LP bought a new position in Viridian Therapeutics during the fourth quarter worth about $13,195,000. Perceptive Advisors LLC grew its holdings in 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 acquiring an additional 719,007 shares during the period. Hennion & Walsh Asset Management Inc. grew its holdings in Viridian Therapeutics by 62.9% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 178,855 shares of the company’s stock worth $2,327,000 after acquiring an additional 69,035 shares during the period. Vanguard Group Inc. boosted its position in shares of Viridian Therapeutics by 7.8% during the first quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company’s stock worth $56,632,000 after purchasing an additional 233,331 shares in the last quarter. Finally, Candriam S.C.A. boosted its position in shares of Viridian Therapeutics by 167.8% during the second quarter. Candriam S.C.A. now owns 749,804 shares of the company’s stock worth $9,754,000 after purchasing an additional 469,804 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.