Viridian Therapeutics (NASDAQ:VRDN) Stock Gets Price Target Increase from Truist Financial

Viridian Therapeutics (NASDAQ:VRDN) had its target price boosted by Truist Financial from $39.00 to $42.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial‘s price objective points to a potential upside of 45.13% from the company’s current price.

Several other brokerages also recently issued reports on VRDN. Wall Street Zen downgraded Viridian Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Sunday, October 4th. HC Wainwright increased their target price on Viridian Therapeutics from $22.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday. Wedbush raised their target price on Viridian Therapeutics from $41.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday. Wells Fargo & Company upped their target price on shares of Viridian Therapeutics from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Royal Bank Of Canada raised their price target on shares of Viridian Therapeutics from $36.00 to $38.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 22nd. Ten research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.55.

Viridian Therapeutics Stock Performance

Shares of NASDAQ VRDN traded down $0.12 during trading hours on Thursday, hitting $28.94. 1,236,637 shares of the stock were exchanged, compared to its average volume of 2,149,003. The company has a debt-to-equity ratio of 0.43, a current ratio of 16.95 and a quick ratio of 16.95. The company’s 50 day moving average is $21.80 and its 200 day moving average is $21.85. The firm has a market capitalization of $3.28 billion, a P/E ratio of -8.62 and a beta of 1.07. Viridian Therapeutics has a one year low of $13.18 and a one year high of $34.29.

Viridian Therapeutics (NASDAQ:VRDN) last posted its earnings results on Wednesday, November 4th. The company reported ($0.81) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.21. The business had revenue of $25.75 million for the quarter, compared to analyst estimates of $4.72 million. Viridian Therapeutics had a negative net margin of 505.86% and a negative return on equity of 72.97%. On average, research analysts expect that Viridian Therapeutics will post -4.07 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jennifer Tousignant sold 14,212 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $24.50, for a total value of $348,194.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of VRDN. 71 West Capital Partners boosted its stake in shares of Viridian Therapeutics by 4.1% in the 3rd quarter. 71 West Capital Partners now owns 22,282 shares of the company’s stock valued at $459,000 after purchasing an additional 882 shares in the last quarter. Fulcrum Asset Management LLP acquired a new stake in shares of Viridian Therapeutics during the 3rd quarter worth about $97,000. Pictet Asset Management Holding SA increased its position in shares of Viridian Therapeutics by 13.5% during the 3rd quarter. Pictet Asset Management Holding SA now owns 12,741 shares of the company’s stock worth $262,000 after purchasing an additional 1,516 shares in the last quarter. AlphaCentric Advisors LLC acquired a new stake in shares of Viridian Therapeutics during the 3rd quarter worth about $216,000. Finally, Alps Advisors Inc. lifted its holdings in Viridian Therapeutics by 34.5% during the 3rd quarter. Alps Advisors Inc. now owns 150,078 shares of the company’s stock valued at $3,090,000 after purchasing an additional 38,506 shares during the last quarter.

Viridian Therapeutics News Summary

Here are the key news stories impacting Viridian Therapeutics this week:

• Positive Sentiment: Analysts raised their targets and maintained bullish ratings: Wedbush increased its target to $42 and kept an “outperform” rating; HC Wainwright raised its target to $40 and kept a “buy” rating; and Needham lifted its target to $38 with a “buy” rating. Read More., Read More., Read More.
• Positive Sentiment: Viridian reported a Q3 loss of $0.81 per share, narrower than analysts’ roughly $1.01–$1.02 estimate, while revenue of $25.75 million exceeded the $4.72 million estimate. The earnings beat may have supported investor sentiment, although the loss was larger than a year earlier. Read More.
• Positive Sentiment: The company signaled it is targeting a Q1 2027 biologics license application for elegrobart and expects Lumvoa’s launch to pursue broad coverage over the next six to nine months. Progress toward regulatory submission and commercial access could strengthen the pipeline and launch outlook. Read More.
• Negative Sentiment: A separate analysis argued that VRDN may be overvalued even with its new launch, raising a potential concern about how much expected commercial progress is already reflected in the shares. Read More.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious autoimmune diseases. The company’s lead research area is thyroid eye disease (TED), a debilitating condition that can cause eye inflammation, swelling, pain and vision-related complications.

Viridian’s pipeline is centered on antibodies designed to inhibit the insulin-like growth factor-1 receptor (IGF-1R), a target associated with TED. Its investigational therapies include veligrotug (VRDN-001), an intravenous treatment candidate, and VRDN-003, a subcutaneous formulation being developed to provide a more convenient administration option.