HC Wainwright Reiterates Buy Rating for Viridian Therapeutics (NASDAQ:VRDN)

Viridian Therapeutics (NASDAQ:VRDN)‘s stock had its “buy” rating restated by HC Wainwright in a report released on Tuesday, Benzinga reports. They presently have a $27.00 price objective on the stock. HC Wainwright’s price objective suggests a potential upside of 36.36% from the stock’s previous close.

A number of other equities analysts have also commented on the company. Wedbush restated an “outperform” rating and set a $42.00 price objective on shares of Viridian Therapeutics in a research note on Monday, July 29th. The Goldman Sachs Group assumed coverage on Viridian Therapeutics in a research report on Thursday, June 6th. They issued a “buy” rating and a $23.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price objective on shares of Viridian Therapeutics in a research report on Friday, August 30th. Wolfe Research started coverage on shares of Viridian Therapeutics in a report on Tuesday, June 11th. They issued an “outperform” rating and a $29.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price target on shares of Viridian Therapeutics in a report on Wednesday, August 28th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $34.18.

Viridian Therapeutics Trading Up 5.6 %

VRDN stock opened at $19.80 on Tuesday. Viridian Therapeutics has a 52 week low of $10.93 and a 52 week high of $24.18. The company has a market capitalization of $1.27 billion, a PE ratio of -4.40 and a beta of 1.03. The company’s 50-day simple moving average is $15.03 and its 200 day simple moving average is $14.99. 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 (NASDAQ:VRDN) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.15). Viridian Therapeutics had a negative net margin of 79,185.77% and a negative return on equity of 83.18%. The business had revenue of $0.07 million during the quarter, compared to the consensus estimate of $0.09 million. As a group, sell-side analysts anticipate that Viridian Therapeutics will post -3.97 earnings per share for the current year.

Hedge Funds Weigh In On Viridian Therapeutics

A number of institutional investors have recently added to or reduced their stakes in VRDN. Ameritas Investment Partners Inc. grew its stake in shares of Viridian Therapeutics by 19.2% during the first quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock worth $87,000 after buying an additional 799 shares during the last quarter. Swiss National Bank increased its holdings in Viridian Therapeutics by 1.2% in the 4th quarter. Swiss National Bank now owns 67,200 shares of the company’s stock worth $1,464,000 after purchasing an additional 800 shares in the last quarter. Principal Financial Group Inc. raised its position in Viridian Therapeutics by 9.7% in the first quarter. Principal Financial Group Inc. now owns 11,915 shares of the company’s stock valued at $209,000 after purchasing an additional 1,058 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Viridian Therapeutics by 4.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,822 shares of the company’s stock valued at $505,000 after purchasing an additional 1,135 shares in the last quarter. Finally, New York State Common Retirement Fund grew its holdings in shares of Viridian Therapeutics by 9.7% during the fourth quarter. New York State Common Retirement Fund now owns 17,495 shares of the company’s stock worth $378,000 after purchasing an additional 1,545 shares during the last quarter.

About Viridian Therapeutics

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.