Viridian Therapeutics (NASDAQ:VRDN) Given Buy Rating at Needham & Company LLC

Viridian Therapeutics (NASDAQ:VRDN)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research report issued on Monday,Benzinga reports. They currently have a $32.00 target price on the stock. Needham & Company LLC’s price target suggests a potential upside of 78.77% from the company’s current price.

Several other brokerages have also weighed in on VRDN. Evercore set a $26.00 price objective on Viridian Therapeutics in a report on Friday, May 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Viridian Therapeutics in a research note on Monday, April 20th. Wedbush decreased their price target on shares of Viridian Therapeutics from $37.00 to $31.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 8th. Royal Bank Of Canada boosted their price target on shares of Viridian Therapeutics from $30.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Finally, HC Wainwright dropped their price objective on shares of Viridian Therapeutics from $34.00 to $22.00 and set a “buy” rating for the company in a research note on Tuesday, March 31st. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $36.14.

Viridian Therapeutics Price Performance

NASDAQ VRDN opened at $17.90 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 15.15 and a current ratio of 15.15. The firm has a 50-day simple moving average of $16.25 and a 200 day simple moving average of $24.21. Viridian Therapeutics has a twelve month low of $13.18 and a twelve month high of $34.29. The stock has a market cap of $1.84 billion, a PE ratio of -5.39 and a beta of 0.90.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results on Tuesday, May 5th. The company reported ($0.90) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.16. Viridian Therapeutics had a negative return on equity of 80.19% and a negative net margin of 490.31%.The business had revenue of $0.14 million for the quarter, compared to the consensus estimate of $0.04 million. During the same period last year, the business earned ($0.87) earnings per share. The firm’s revenue for the quarter was up 95.8% compared to the same quarter last year. On average, research analysts forecast that Viridian Therapeutics will post -3.87 EPS for the current year.

Insider Buying and Selling at Viridian Therapeutics

In other news, Director Fairmount Funds Management Llc bought 1,176,470 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was bought at an average price of $17.00 per share, for a total transaction of $19,999,990.00. Following the completion of the purchase, the director owned 5,090,928 shares of the company’s stock, valued at approximately $86,545,776. The trade was a 30.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Viridian Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. ANTIPODES PARTNERS Ltd bought a new position in Viridian Therapeutics in the 4th quarter valued at $36,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Viridian Therapeutics during the third quarter worth $35,000. KBC Group NV acquired a new stake in shares of Viridian Therapeutics in the first quarter valued at $34,000. Larson Financial Group LLC acquired a new stake in shares of Viridian Therapeutics in the third quarter valued at $52,000. Finally, US Bancorp DE raised its holdings in shares of Viridian Therapeutics by 23.2% in the third quarter. US Bancorp DE now owns 2,457 shares of the company’s stock valued at $53,000 after buying an additional 463 shares during the last quarter.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc (NASDAQ: VRDN) is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted antibody therapeutics for patients suffering from rare and serious diseases. The company’s lead program, VRDN-001, is a fully human monoclonal antibody that antagonizes the insulin-like growth factor-1 receptor (IGF-1R), with an initial focus on thyroid eye disease (TED). By selectively inhibiting IGF-1R signaling, VRDN-001 aims to reduce inflammation and tissue remodeling associated with TED and related disorders.

In addition to VRDN-001, Viridian is advancing a second antibody program, VRDN-002, which targets complement-mediated pathways implicated in autoimmune and inflammatory diseases.