Viridian Therapeutics (NASDAQ:VRDN) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Viridian Therapeutics (NASDAQ:VRDN) in a report published on Monday morning,Benzinga reports. HC Wainwright currently has a $34.00 target price on the stock.

A number of other research firms also recently commented on VRDN. BTIG Research raised their target price on Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, September 26th. The Goldman Sachs Group increased their price target on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Royal Bank of Canada reissued an “outperform” rating and set a $44.00 price objective on shares of Viridian Therapeutics in a report on Thursday, December 5th. TD Cowen assumed coverage on shares of Viridian Therapeutics in a research report on Monday, November 25th. They set a “buy” rating on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $38.00 price target on shares of Viridian Therapeutics in a research report on Monday, November 25th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Viridian Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $36.67.

Viridian Therapeutics Stock Performance

Shares of VRDN opened at $18.93 on Monday. Viridian Therapeutics has a 1 year low of $11.40 and a 1 year high of $27.20. The stock has a market capitalization of $1.50 billion, a P/E ratio of -4.39 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 18.55 and a current ratio of 18.55. The company’s fifty day moving average is $21.87 and its two-hundred day moving average is $18.05.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. The firm had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.08 million. On average, sell-side analysts predict that Viridian Therapeutics will post -4.03 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Thomas W. Beetham bought 5,000 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was acquired at an average price of $23.41 per share, for a total transaction of $117,050.00. Following the acquisition, the chief operating officer now owns 6,000 shares of the company’s stock, valued at $140,460. This trade represents a 500.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Stephen F. Mahoney bought 21,400 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were acquired at an average cost of $23.33 per share, with a total value of $499,262.00. Following the transaction, the chief executive officer now owns 21,400 shares in the company, valued at approximately $499,262. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.65% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Viridian Therapeutics

Several institutional investors have recently bought and sold shares of the business. FMR LLC raised 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 period. 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 valued at $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 period. Geode Capital Management LLC grew its stake in shares of Viridian Therapeutics by 5.8% in the third quarter. Geode Capital Management LLC now owns 1,493,311 shares of the company’s stock valued at $33,979,000 after buying an additional 81,951 shares in the last quarter. Finally, Great Point Partners LLC raised its holdings in shares of Viridian Therapeutics by 50.0% during the 3rd quarter. Great Point Partners LLC now owns 750,000 shares of the company’s stock valued at $17,062,000 after buying an additional 250,000 shares during the period.

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.