Viridian Therapeutics (NASDAQ:VRDN) Given Buy Rating at Needham & Company LLC

Viridian Therapeutics (NASDAQ:VRDN)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a report issued on Tuesday,Benzinga reports. They currently have a $38.00 price target on the stock. Needham & Company LLC’s price target indicates a potential upside of 98.43% from the company’s current price.

Several other analysts have also issued reports on the stock. BTIG Research increased their price target on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Royal Bank of Canada boosted their price target on Viridian Therapeutics from $44.00 to $47.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. HC Wainwright reissued a “buy” rating and set a $34.00 target price on shares of Viridian Therapeutics in a report on Monday, December 16th. TD Cowen started coverage on shares of Viridian Therapeutics in a report on Monday, November 25th. They set a “buy” rating on the stock. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $27.00 price target (down previously from $37.00) on shares of Viridian Therapeutics in a research report on Thursday, December 19th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $35.70.

Viridian Therapeutics Stock Down 8.4 %

Viridian Therapeutics stock opened at $19.15 on Tuesday. The company’s 50-day moving average price is $20.67 and its two-hundred day moving average price is $18.81. 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 stock has a market cap of $1.52 billion, a P/E ratio of -4.44 and a beta of 1.13. Viridian Therapeutics has a twelve month low of $11.40 and a twelve month high of $27.20.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) EPS 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 business had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.08 million. As a group, analysts expect that Viridian Therapeutics will post -4.03 EPS for the current year.

Hedge Funds Weigh In On Viridian Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its stake in shares of Viridian Therapeutics by 37.4% during the second quarter. Bank of New York Mellon Corp now owns 208,676 shares of the company’s stock valued at $2,715,000 after purchasing an additional 56,814 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Viridian Therapeutics by 24.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock valued at $156,000 after purchasing an additional 2,359 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Viridian Therapeutics by 34.5% during the second quarter. Rhumbline Advisers now owns 90,826 shares of the company’s stock valued at $1,182,000 after purchasing an additional 23,305 shares in the last quarter. Arizona State Retirement System grew its position in shares of Viridian Therapeutics by 14.7% in the 2nd quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock worth $171,000 after buying an additional 1,688 shares during the period. Finally, Quest Partners LLC boosted its position in shares of Viridian Therapeutics by 344.0% in the 2nd quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock worth $79,000 after purchasing an additional 4,692 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.