Viridian Therapeutics’ (VRDN) Buy Rating Reaffirmed at Needham & Company LLC

Viridian Therapeutics (NASDAQ:VRDN)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a note issued to investors on Tuesday,Benzinga reports. They presently have a $38.00 price target on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 89.34% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. The Goldman Sachs Group boosted their price target on Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. HC Wainwright reissued a “buy” rating and set a $34.00 target price on shares of Viridian Therapeutics in a research note on Monday, December 16th. BTIG Research raised their price target on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Wells Fargo & Company reiterated an “equal weight” rating and set a $27.00 price objective (down from $37.00) on shares of Viridian Therapeutics in a research report on Thursday, December 19th. Finally, Royal Bank of Canada increased their price objective on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Three investment 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 presently has a consensus rating of “Moderate Buy” and an average price target of $35.70.

Viridian Therapeutics Trading Down 0.6 %

Shares of Viridian Therapeutics stock opened at $20.07 on Tuesday. The company has a quick ratio of 18.55, a current ratio of 18.55 and a debt-to-equity ratio of 0.04. Viridian Therapeutics has a 12-month low of $11.40 and a 12-month high of $27.20. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of -4.66 and a beta of 1.13. The firm’s 50-day moving average price is $20.77 and its two-hundred day moving average price is $18.75.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $0.08 million. On average, analysts forecast that Viridian Therapeutics will post -4.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Quest Partners LLC grew 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 valued at $79,000 after buying an additional 4,692 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Viridian Therapeutics in the third quarter valued at approximately $149,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in 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 during the period. Arizona State Retirement System increased its position in Viridian Therapeutics by 14.7% during the 2nd quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock valued at $171,000 after purchasing an additional 1,688 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Viridian Therapeutics during the 3rd quarter worth approximately $208,000.

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.