Viridian Therapeutics’ (VRDN) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Viridian Therapeutics (NASDAQ:VRDN) in a research report released on Friday morning, Benzinga reports. The brokerage currently has a $30.00 target price on the stock.

Other equities analysts also recently issued reports about the stock. Wedbush reaffirmed an outperform rating and issued a $42.00 price target on shares of Viridian Therapeutics in a research note on Monday, July 29th. Oppenheimer reaffirmed an outperform rating and issued a $28.00 target price (down from $31.00) on shares of Viridian Therapeutics in a research report on Monday, August 12th. B. Riley downgraded Viridian Therapeutics from a buy rating to a neutral rating and cut their price target for the stock from $25.00 to $20.00 in a research note on Thursday, May 9th. Royal Bank of Canada reissued an outperform rating and issued a $35.00 price target on shares of Viridian Therapeutics in a research note on Wednesday. Finally, HC Wainwright reaffirmed a buy rating and set a $27.00 price objective on shares of Viridian Therapeutics in a research report on Thursday, August 15th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $31.20.

Viridian Therapeutics Trading Down 2.1 %

NASDAQ:VRDN opened at $14.68 on Friday. The stock has a market cap of $936.91 million, a PE ratio of -3.26 and a beta of 1.13. Viridian Therapeutics has a fifty-two week low of $10.93 and a fifty-two week high of $24.18. The company has a debt-to-equity ratio of 0.05, a current ratio of 15.82 and a quick ratio of 15.82. The stock’s 50-day moving average is $14.58 and its two-hundred day moving average is $15.18.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.15). The company had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.09 million. Viridian Therapeutics had a negative return on equity of 83.18% and a negative net margin of 79,185.77%. As a group, equities research analysts forecast that Viridian Therapeutics will post -3.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Viridian Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. RTW Investments LP bought a new position in shares of Viridian Therapeutics in the fourth quarter valued at approximately $13,195,000. Perceptive Advisors LLC grew its stake in Viridian Therapeutics by 71.1% in the 4th quarter. Perceptive Advisors LLC now owns 1,730,212 shares of the company’s stock valued at $37,684,000 after buying an additional 719,007 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Viridian Therapeutics by 62.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 178,855 shares of the company’s stock worth $2,327,000 after acquiring an additional 69,035 shares during the period. Vanguard Group Inc. lifted its position in Viridian Therapeutics by 7.8% during the 1st quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company’s stock worth $56,632,000 after acquiring an additional 233,331 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its holdings in Viridian Therapeutics by 19.2% during the first quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock valued at $87,000 after acquiring an additional 799 shares during the period.

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.