Viridian Therapeutics (NASDAQ:VRDN) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Viridian Therapeutics (NASDAQ:VRDN) in a report released on Tuesday morning, Benzinga reports. The brokerage currently has a $27.00 price target on the stock.

Other equities research analysts also recently issued reports about the stock. Royal Bank of Canada reaffirmed an outperform rating and issued a $35.00 price objective on shares of Viridian Therapeutics in a research report on Wednesday, August 28th. Oppenheimer reaffirmed an outperform rating and issued a $28.00 target price (down from $31.00) on shares of Viridian Therapeutics in a report on Monday, August 12th. BTIG Research increased their price target on Viridian Therapeutics from $46.00 to $56.00 and gave the company a buy rating in a research report on Tuesday. Wedbush reissued an outperform rating and issued a $42.00 price objective on shares of Viridian Therapeutics in a research report on Monday, July 29th. Finally, The Goldman Sachs Group started coverage on Viridian Therapeutics in a research note on Thursday, June 6th. They issued a buy rating and a $23.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $34.91.

Viridian Therapeutics Stock Performance

Shares of Viridian Therapeutics stock opened at $20.70 on Tuesday. The business has a 50-day simple moving average of $15.20 and a 200 day simple moving average of $15.03. Viridian Therapeutics has a one year low of $10.93 and a one year high of $24.18. The company has a debt-to-equity ratio of 0.05, a current ratio of 15.82 and a quick ratio of 15.82. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of -4.60 and a beta of 1.03.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in VRDN. Ameritas Investment Partners Inc. raised its position in shares of Viridian Therapeutics by 19.2% in the first quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock worth $87,000 after buying an additional 799 shares in the last quarter. Quest Partners LLC increased its stake in 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 acquiring an additional 4,692 shares during the last quarter. Principal Financial Group Inc. increased its stake in Viridian Therapeutics by 9.7% in the 1st quarter. Principal Financial Group Inc. now owns 11,915 shares of the company’s stock worth $209,000 after acquiring an additional 1,058 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Viridian Therapeutics by 24.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock valued at $156,000 after acquiring an additional 2,359 shares in the last quarter. Finally, AlphaCentric Advisors LLC boosted its position in shares of Viridian Therapeutics by 108.3% during the 2nd quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock valued at $163,000 after acquiring an additional 6,500 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.