Viridian Therapeutics (NASDAQ:VRDN – Get Free Report) had its price objective boosted by investment analysts at Royal Bank of Canada from $35.00 to $44.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 100.00% from the company’s previous close.
A number of other analysts have also weighed in on the stock. HC Wainwright restated a “buy” rating and issued a $27.00 target price on shares of Viridian Therapeutics in a research report on Tuesday. Oppenheimer reaffirmed an “outperform” rating and issued a $28.00 price target (down from $31.00) on shares of Viridian Therapeutics in a research note on Monday, August 12th. The Goldman Sachs Group lifted their price objective on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the company a “buy” rating in a report on Thursday. 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 report on Wednesday. Finally, BTIG Research boosted their price target on shares of Viridian Therapeutics from $46.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.73.
Check Out Our Latest Research Report on Viridian Therapeutics
Viridian Therapeutics Stock Performance
Viridian Therapeutics (NASDAQ:VRDN – Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.15). Viridian Therapeutics had a negative net margin of 79,185.77% and a negative return on equity of 83.18%. The company had revenue of $0.07 million during the quarter, compared to the consensus estimate of $0.09 million. On average, research analysts expect that Viridian Therapeutics will post -3.97 EPS for the current fiscal year.
Hedge Funds Weigh In On Viridian Therapeutics
A number of hedge funds and other institutional investors have recently bought and sold shares of VRDN. Vestal Point Capital LP purchased a new stake in Viridian Therapeutics during the 4th quarter valued at $21,780,000. Novo Holdings A S boosted its position in Viridian Therapeutics by 81.8% during the 2nd quarter. Novo Holdings A S now owns 2,000,000 shares of the company’s stock valued at $26,020,000 after buying an additional 900,000 shares during the period. Perceptive Advisors LLC boosted its position in Viridian Therapeutics by 71.1% during the 4th quarter. Perceptive Advisors LLC now owns 1,730,212 shares of the company’s stock valued at $37,684,000 after buying an additional 719,007 shares during the period. Maverick Capital Ltd. boosted its position in Viridian Therapeutics by 22.9% during the 2nd quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock valued at $43,036,000 after buying an additional 615,531 shares during the period. Finally, RTW Investments LP purchased a new stake in Viridian Therapeutics during the 4th quarter valued at $13,195,000.
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.
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