Viridian Therapeutics’ (VRDN) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Viridian Therapeutics (NASDAQ:VRDN) in a research note published on Wednesday,Benzinga reports. The firm currently has a $38.00 price target on the stock.

A number of other analysts have also recently commented on the company. Oppenheimer reiterated an “outperform” rating and set a $28.00 price objective (down previously from $31.00) on shares of Viridian Therapeutics in a research report on Monday, August 12th. Wedbush restated an “outperform” rating and issued a $42.00 price target on shares of Viridian Therapeutics in a research report on Monday, July 29th. The Goldman Sachs Group upped 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, September 12th. Royal Bank of Canada restated an “outperform” rating and issued a $44.00 price target on shares of Viridian Therapeutics in a research report on Thursday, September 19th. Finally, HC Wainwright restated a “buy” rating and issued a $27.00 price target on shares of Viridian Therapeutics in a research report on Tuesday, September 10th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Viridian Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.33.

Viridian Therapeutics Stock Down 6.9 %

Viridian Therapeutics stock opened at $20.14 on Wednesday. The stock has a market cap of $1.60 billion, a PE ratio of -4.67 and a beta of 1.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 15.82 and a current ratio of 15.82. Viridian Therapeutics has a one year low of $11.40 and a one year high of $27.20. The stock has a fifty day moving average of $22.64 and a 200 day moving average of $16.99.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). The firm had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $0.08 million. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 81.36%. As a group, sell-side analysts predict that Viridian Therapeutics will post -3.94 EPS for the current year.

Insider Transactions at Viridian Therapeutics

In other news, Director Fairmount Funds Management Llc purchased 1,600,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was bought at an average cost of $18.75 per share, with a total value of $30,000,000.00. Following the completion of the purchase, the director now owns 3,445,813 shares in the company, valued at approximately $64,608,993.75. This represents a 86.68 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Stephen F. Mahoney purchased 21,400 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were purchased at an average cost of $23.33 per share, with a total value of $499,262.00. Following the completion of the purchase, the chief executive officer now owns 21,400 shares of the company’s stock, valued at $499,262. The trade was a ? increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 1,626,400 shares of company stock valued at $30,616,312 over the last 90 days. Company insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Viridian Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VRDN. FMR LLC boosted its stake in Viridian Therapeutics by 16.8% during the third quarter. FMR LLC now owns 11,183,478 shares of the company’s stock valued at $254,424,000 after buying an additional 1,610,130 shares during the last quarter. Novo Holdings A S lifted its stake in shares of Viridian Therapeutics by 81.8% in the 2nd quarter. Novo Holdings A S now owns 2,000,000 shares of the company’s stock valued at $26,020,000 after purchasing an additional 900,000 shares during the last quarter. Maverick Capital Ltd. lifted its stake in shares of Viridian Therapeutics by 22.9% in the 2nd quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock valued at $43,036,000 after purchasing an additional 615,531 shares during the last quarter. Candriam S.C.A. lifted its stake in shares of 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, Parkman Healthcare Partners LLC bought a new stake in shares of Viridian Therapeutics in the 3rd quarter valued at approximately $9,669,000.

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.