Wells Fargo & Company Forecasts Strong Price Appreciation for Viridian Therapeutics (NASDAQ:VRDN) Stock

Viridian Therapeutics (NASDAQ:VRDN) had its price objective increased by stock analysts at Wells Fargo & Company from $26.00 to $29.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential downside of 12.65% from the stock’s previous close.

VRDN has been the topic of a number of other research reports. BTIG Research reissued a “buy” rating and issued a $61.00 price target on shares of Viridian Therapeutics in a report on Tuesday, November 4th. Evercore ISI reissued an “outperform” rating and issued a $44.00 target price on shares of Viridian Therapeutics in a research report on Tuesday, January 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Viridian Therapeutics in a research report on Wednesday, January 21st. UBS Group assumed coverage on Viridian Therapeutics in a research note on Wednesday, January 7th. They issued a “buy” rating and a $50.00 price target on the stock. Finally, Needham & Company LLC raised their price objective on Viridian Therapeutics from $34.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, December 23rd. Thirteen 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.64.

Viridian Therapeutics Trading Up 0.6%

VRDN stock opened at $33.20 on Tuesday. Viridian Therapeutics has a one year low of $9.90 and a one year high of $34.29. The company has a market capitalization of $3.17 billion, a PE ratio of -10.99 and a beta of 0.90. The company’s 50 day moving average price is $32.13 and its two-hundred day moving average price is $24.94. The company has a debt-to-equity ratio of 0.07, a quick ratio of 11.28 and a current ratio of 11.28.

Viridian Therapeutics (NASDAQ:VRDN) last issued its earnings results on Wednesday, November 5th. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.48. The company had revenue of $70.57 million for the quarter, compared to analysts’ expectations of $16.21 million. Viridian Therapeutics had a negative net margin of 426.58% and a negative return on equity of 78.50%. The business’s revenue was up 81993.0% on a year-over-year basis. As a group, analysts predict that Viridian Therapeutics will post -4.03 earnings per share for the current fiscal year.

Insider Transactions at Viridian Therapeutics

In other Viridian Therapeutics news, insider Jennifer Tousignant sold 2,272 shares of the business’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $31.16, for a total value of $70,795.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.58% of the company’s stock.

Hedge Funds Weigh In On Viridian Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of VRDN. Privium Fund Management B.V. bought a new position in Viridian Therapeutics in the 4th quarter worth about $5,400,000. Jennison Associates LLC purchased a new position in Viridian Therapeutics in the fourth quarter worth about $35,915,000. State of New Jersey Common Pension Fund D bought a new position in shares of Viridian Therapeutics in the fourth quarter worth approximately $692,000. Moody Aldrich Partners LLC lifted its stake in shares of Viridian Therapeutics by 29.8% in the fourth quarter. Moody Aldrich Partners LLC now owns 96,187 shares of the company’s stock worth $2,993,000 after buying an additional 22,074 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Viridian Therapeutics by 29.6% during the fourth quarter. Vanguard Group Inc. now owns 5,612,144 shares of the company’s stock valued at $174,650,000 after buying an additional 1,280,161 shares during the last quarter.

About Viridian Therapeutics

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.