Published on 28 Feb 2024 on Zacks via Yahoo Finance

How Much Upside is Left in Viridian Therapeutics, Inc. (VRDN)? Wall Street Analysts Think 97.81%

Shares of Viridian Therapeutics, Inc. (VRDN) have gained 0.4% over the past four weeks to close the last trading session at $19.61, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $38.79 indicates a potential upside of 97.8%.

The average comprises 14 short-term price targets ranging from a low of $29 to a high of $50, with a standard deviation of $5.96. While the lowest estimate indicates an increase of 47.9% from the current price level, the most optimistic estimate points to a 155% upside. More than the range, one should note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.

While the consensus price target is highly sought after by investors, the ability and unbiasedness of analysts in setting price targets have long been questionable. And investors making investment decisions solely based on this tool would arguably do themselves a disservice.