Viridian Therapeutics (NASDAQ:VRDN) Receives “Buy” Rating from Needham & Company LLC

Viridian Therapeutics (NASDAQ:VRDN)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a research report issued on Monday,Benzinga reports. They presently have a $38.00 price objective on the stock. Needham & Company LLC’s target price suggests a potential upside of 88.12% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada reissued an “outperform” rating and set a $44.00 target price on shares of Viridian Therapeutics in a research note on Thursday, September 19th. TD Cowen assumed coverage on Viridian Therapeutics in a report on Monday. They set a “buy” rating on the stock. Oppenheimer restated an “outperform” rating and set a $28.00 price target (down from $31.00) on shares of Viridian Therapeutics in a report on Monday, August 12th. Wedbush restated an “outperform” rating and set a $42.00 price target on shares of Viridian Therapeutics in a report on Monday, July 29th. Finally, HC Wainwright upped their target price on Viridian Therapeutics from $27.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Viridian Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $36.33.

Viridian Therapeutics Stock Up 3.0 %

Shares of NASDAQ VRDN opened at $20.20 on Monday. The company has a current ratio of 18.55, a quick ratio of 18.55 and a debt-to-equity ratio of 0.04. The company has a market cap of $1.60 billion, a price-to-earnings ratio of -4.69 and a beta of 1.10. Viridian Therapeutics has a 12 month low of $11.40 and a 12 month high of $27.20. The stock has a 50-day moving average price of $22.73 and a two-hundred day moving average price of $17.19.

Viridian Therapeutics (NASDAQ:VRDN) last issued 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 business had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.08 million. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. As a group, analysts forecast that Viridian Therapeutics will post -4.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Viridian Therapeutics

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VRDN. Arizona State Retirement System increased its holdings in 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 acquiring an additional 1,688 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Viridian Therapeutics by 17.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,997 shares of the company’s stock worth $318,000 after acquiring an additional 2,036 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Viridian Therapeutics by 24.6% in the 2nd 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. AlphaCentric Advisors LLC increased its holdings in Viridian Therapeutics by 20.0% in the 3rd quarter. AlphaCentric Advisors LLC now owns 15,000 shares of the company’s stock worth $341,000 after acquiring an additional 2,500 shares during the last quarter. Finally, DCF Advisers LLC increased its holdings in Viridian Therapeutics by 22.4% in the 2nd quarter. DCF Advisers LLC now owns 17,750 shares of the company’s stock worth $231,000 after acquiring an additional 3,250 shares during 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.