Viridian Therapeutics (NASDAQ:VRDN) PT Raised to $38.00 at Needham & Company LLC

Viridian Therapeutics (NASDAQ:VRDN) had its price target hoisted by investment analysts at Needham & Company LLC from $30.00 to $38.00 in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 102.67% from the stock’s previous close.

Several other brokerages also recently weighed in on VRDN. BTIG Research increased their target price on Viridian Therapeutics from $46.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday. Wedbush reaffirmed an “outperform” rating and set a $42.00 target price on shares of Viridian Therapeutics in a research report on Monday, July 29th. The Goldman Sachs Group initiated coverage on shares of Viridian Therapeutics in a research note on Thursday, June 6th. They set a “buy” rating and a $23.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 price target on shares of Viridian Therapeutics in a research report on Wednesday, August 28th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $28.00 price objective (down previously from $31.00) on shares of Viridian Therapeutics in a research report on Monday, August 12th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.18.

Viridian Therapeutics Price Performance

Shares of Viridian Therapeutics stock opened at $18.75 on Wednesday. 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 fifty day simple moving average of $14.88 and a 200-day simple moving average of $14.96. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -4.17 and a beta of 1.03. Viridian Therapeutics has a 1-year low of $10.93 and a 1-year high of $24.18.

Viridian Therapeutics (NASDAQ:VRDN) last announced its earnings results on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.15). Viridian Therapeutics had a negative return on equity of 83.18% and a negative net margin of 79,185.77%. The firm had revenue of $0.07 million during the quarter, compared to the consensus estimate of $0.09 million. On average, sell-side analysts expect that Viridian Therapeutics will post -3.97 earnings per share for the current year.

Institutional Trading of Viridian Therapeutics

Several institutional investors have recently bought and sold shares of the stock. RTW Investments LP bought a new stake in Viridian Therapeutics during the fourth quarter worth about $13,195,000. Perceptive Advisors LLC increased its holdings in Viridian Therapeutics by 71.1% during the 4th quarter. Perceptive Advisors LLC now owns 1,730,212 shares of the company’s stock valued at $37,684,000 after purchasing an additional 719,007 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in Viridian Therapeutics by 62.9% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 178,855 shares of the company’s stock valued at $2,327,000 after purchasing an additional 69,035 shares in the last quarter. Vanguard Group Inc. raised its position in Viridian Therapeutics by 7.8% in the 1st quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company’s stock valued at $56,632,000 after purchasing an additional 233,331 shares during the last quarter. Finally, Candriam S.C.A. boosted 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 worth $9,754,000 after purchasing an additional 469,804 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.