HC Wainwright Raises Viridian Therapeutics (NASDAQ:VRDN) Price Target to $34.00

Viridian Therapeutics (NASDAQ:VRDN) had its price target upped by HC Wainwright from $27.00 to $34.00 in a report released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

VRDN has been the topic of several other reports. BTIG Research boosted their target price on Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Wedbush restated an “outperform” rating and set a $42.00 target price on shares of Viridian Therapeutics in a report on Monday, July 29th. Oppenheimer restated an “outperform” rating and set a $28.00 target price (down from $31.00) on shares of Viridian Therapeutics in a report on Monday, August 12th. Royal Bank of Canada restated an “outperform” rating and set a $44.00 target price on shares of Viridian Therapeutics in a report on Thursday, September 19th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price objective on shares of Viridian Therapeutics in a report on Wednesday. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.33.

Viridian Therapeutics Price Performance

NASDAQ:VRDN opened at $20.14 on Thursday. Viridian Therapeutics has a 12 month low of $11.40 and a 12 month high of $27.20. The stock has a 50 day moving average of $22.64 and a two-hundred day moving average of $16.99. The company has a current ratio of 15.82, a quick ratio of 15.82 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.60 billion, a P/E ratio of -4.67 and a beta of 1.10.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The firm had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $0.08 million. Viridian Therapeutics had a negative return on equity of 81.36% and a negative net margin of 85,127.16%. On average, analysts expect that Viridian Therapeutics will post -3.94 earnings per share for the current fiscal year.

Insider Transactions at Viridian Therapeutics

In related news, COO Thomas W. Beetham acquired 5,000 shares of Viridian Therapeutics stock in a transaction dated Friday, September 27th. The shares were acquired at an average cost of $23.41 per share, for a total transaction of $117,050.00. Following the completion of the purchase, the chief operating officer now owns 6,000 shares in the company, valued at approximately $140,460. The trade was a 500.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Fairmount Funds Management Llc acquired 1,600,000 shares of Viridian Therapeutics stock in a transaction dated Friday, September 13th. The stock was bought at an average price of $18.75 per share, for a total transaction of $30,000,000.00. Following the completion of the purchase, the director now owns 3,445,813 shares of the company’s stock, valued at approximately $64,608,993.75. This represents a 86.68 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 1,626,400 shares of company stock worth $30,616,312 over the last ninety days. Company insiders own 0.65% of the company’s stock.

Institutional Trading of Viridian Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. raised its stake in Viridian Therapeutics by 62.9% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 178,855 shares of the company’s stock valued at $2,327,000 after buying an additional 69,035 shares in the last quarter. Rhumbline Advisers raised its stake in Viridian Therapeutics by 34.5% in the second quarter. Rhumbline Advisers now owns 90,826 shares of the company’s stock valued at $1,182,000 after buying an additional 23,305 shares in the last quarter. Vanguard Group Inc. raised its stake in Viridian Therapeutics by 7.8% in the first quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company’s stock valued at $56,632,000 after buying an additional 233,331 shares in the last quarter. Candriam S.C.A. raised its stake in Viridian Therapeutics by 167.8% in the second quarter. Candriam S.C.A. now owns 749,804 shares of the company’s stock valued at $9,754,000 after buying an additional 469,804 shares in the last quarter. Finally, Novo Holdings A S raised its stake in Viridian Therapeutics by 19.3% in the third quarter. Novo Holdings A S now owns 2,385,000 shares of the company’s stock valued at $54,259,000 after buying an additional 385,000 shares in the last quarter.

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.