Needham & Company LLC Reiterates “Buy” Rating for Viridian Therapeutics (NASDAQ:VRDN)

Needham & Company LLC reaffirmed their buy rating on shares of Viridian Therapeutics (NASDAQ:VRDN) in a research note published on Monday,Benzinga reports. They currently have a $38.00 price target on the stock.

A number of other equities research analysts have also recently issued reports on VRDN. HC Wainwright upped their price objective on shares of Viridian Therapeutics from $27.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. The Goldman Sachs Group raised their price objective on Viridian Therapeutics from $25.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. BTIG Research boosted their target price on Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Wedbush restated an “outperform” rating and set a $42.00 price target on shares of Viridian Therapeutics in a research report on Monday, July 29th. Finally, TD Cowen initiated coverage on Viridian Therapeutics in a research report on Monday. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $36.33.

Viridian Therapeutics Trading Down 0.2 %

NASDAQ VRDN opened at $21.87 on Monday. The stock’s 50-day simple moving average is $22.73 and its two-hundred day simple moving average is $17.30. Viridian Therapeutics has a twelve month low of $11.40 and a twelve month high of $27.20. The company has a quick ratio of 18.55, a current ratio of 18.55 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -5.07 and a beta of 1.10.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. The firm had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.08 million. Research analysts forecast that Viridian Therapeutics will post -4.04 EPS for the current fiscal year.

Insider Activity at Viridian Therapeutics

In other news, CEO Stephen F. Mahoney purchased 21,400 shares of Viridian Therapeutics stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average cost of $23.33 per share, with a total value of $499,262.00. Following the completion of the purchase, the chief executive officer now directly owns 21,400 shares in the company, valued at approximately $499,262. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Thomas W. Beetham acquired 5,000 shares of the stock in a transaction on Friday, September 27th. The shares were purchased at an average cost of $23.41 per share, with a total value of $117,050.00. Following the transaction, the chief operating officer now directly owns 6,000 shares of the company’s stock, valued at approximately $140,460. This trade represents a 500.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,626,400 shares of company stock worth $30,616,312 over the last quarter. Corporate insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Quest Partners LLC increased its stake in shares of Viridian Therapeutics by 344.0% during the second quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock valued at $79,000 after purchasing an additional 4,692 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Viridian Therapeutics during the 3rd quarter valued at approximately $149,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Viridian Therapeutics during the third quarter valued at $208,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Viridian Therapeutics by 24.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock worth $156,000 after acquiring an additional 2,359 shares during the last quarter. Finally, AlphaCentric Advisors LLC increased its holdings in shares of Viridian Therapeutics by 108.3% during the second quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock valued at $163,000 after acquiring an additional 6,500 shares in 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.