Royal Bank of Canada Lowers Viridian Therapeutics (NASDAQ:VRDN) Price Target to $45.00

Viridian Therapeutics (NASDAQ:VRDN) had its target price decreased by research analysts at Royal Bank of Canada from $46.00 to $45.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target suggests a potential upside of 252.11% from the company’s previous close.

VRDN has been the topic of a number of other research reports. JMP Securities lowered their target price on shares of Viridian Therapeutics from $42.00 to $38.00 and set a “market outperform” rating on the stock in a report on Wednesday. Needham & Company LLC decreased their price objective on Viridian Therapeutics from $38.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, HC Wainwright reissued a “buy” rating and set a $34.00 price objective on shares of Viridian Therapeutics in a report on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.18.

Viridian Therapeutics Stock Performance

Shares of VRDN opened at $12.78 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 18.55 and a quick ratio of 18.55. The firm has a market cap of $1.04 billion, a PE ratio of -2.97 and a beta of 0.57. Viridian Therapeutics has a 1 year low of $9.90 and a 1 year high of $27.20. The stock’s fifty day moving average price is $13.76 and its two-hundred day moving average price is $17.61.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.87) EPS for the quarter, beating the consensus estimate of ($0.95) by $0.08. The business had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.16 million. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. Viridian Therapeutics’s revenue for the quarter was up .0% on a year-over-year basis. On average, equities research analysts forecast that Viridian Therapeutics will post -4.03 EPS for the current year.

Institutional Investors Weigh In On Viridian Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. R Squared Ltd bought a new position in shares of Viridian Therapeutics in the 4th quarter worth $26,000. Foresite Capital Management VI LLC bought a new position in shares of Viridian Therapeutics during the 4th quarter valued at about $38,000. Amalgamated Bank raised its holdings in shares of Viridian Therapeutics by 49.7% during the 1st quarter. Amalgamated Bank now owns 2,531 shares of the company’s stock valued at $34,000 after buying an additional 840 shares in the last quarter. AlphaQuest LLC lifted its position in Viridian Therapeutics by 119.0% in the 4th quarter. AlphaQuest LLC now owns 2,795 shares of the company’s stock worth $54,000 after buying an additional 1,519 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its stake in Viridian Therapeutics by 24.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,646 shares of the company’s stock worth $147,000 after buying an additional 1,516 shares in 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.