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

Viridian Therapeutics (NASDAQ:VRDN)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They currently have a $34.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 63.30% from the company’s previous close.

VRDN has been the topic of several other research reports. BTIG Research increased their price objective on Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price objective on shares of Viridian Therapeutics in a research note on Monday, November 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $44.00 price objective on shares of Viridian Therapeutics in a report on Thursday, December 5th. 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, The Goldman Sachs Group boosted their price target on Viridian Therapeutics from $25.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Viridian Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $36.67.

Viridian Therapeutics Price Performance

Shares of VRDN opened at $20.82 on Monday. The firm has a market capitalization of $1.65 billion, a PE ratio of -4.83 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 18.55 and a quick ratio of 18.55. Viridian Therapeutics has a fifty-two week low of $11.40 and a fifty-two week high of $27.20. The company’s 50-day moving average is $21.95 and its 200-day moving average is $18.05.

Viridian Therapeutics (NASDAQ:VRDN) last posted its earnings results 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 during the quarter, compared to analyst estimates of $0.08 million. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. Equities analysts forecast that Viridian Therapeutics will post -4.03 EPS for the current year.

Insiders Place Their Bets

In other Viridian Therapeutics news, CEO Stephen F. Mahoney bought 21,400 shares of the stock in a transaction on Friday, September 27th. The stock was purchased at an average price of $23.33 per share, with a total value of $499,262.00. Following the completion of the purchase, the chief executive officer now owns 21,400 shares in the company, valued at $499,262. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Thomas W. Beetham purchased 5,000 shares of Viridian Therapeutics stock in a transaction dated Friday, September 27th. The stock was bought at an average price 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 $140,460. This represents a 500.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.65% of the company’s stock.

Institutional Trading of Viridian Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of VRDN. FMR LLC lifted its stake in shares of Viridian Therapeutics by 16.8% in the 3rd quarter. FMR LLC now owns 11,183,478 shares of the company’s stock valued at $254,424,000 after acquiring an additional 1,610,130 shares during the last quarter. Maverick Capital Ltd. increased its holdings in Viridian Therapeutics by 22.9% in the 2nd quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock worth $43,036,000 after purchasing an additional 615,531 shares in the last quarter. Novo Holdings A S raised its position 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 purchasing an additional 385,000 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Viridian Therapeutics by 5.8% during the third quarter. Geode Capital Management LLC now owns 1,493,311 shares of the company’s stock valued at $33,979,000 after purchasing an additional 81,951 shares in the last quarter. Finally, Great Point Partners LLC grew its holdings in shares of Viridian Therapeutics by 50.0% during the third quarter. Great Point Partners LLC now owns 750,000 shares of the company’s stock worth $17,062,000 after purchasing an additional 250,000 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.