HC Wainwright Reaffirms “Buy” Rating for Viridian Therapeutics (NASDAQ:VRDN)

Viridian Therapeutics (NASDAQ:VRDN)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research note issued on Monday,Benzinga reports. They currently have a $34.00 price target on the stock. HC Wainwright’s target price points to a potential upside of 63.30% from the company’s current price.

VRDN has been the topic of a number of other research reports. BTIG Research boosted their price target on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. The Goldman Sachs Group boosted their target price 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. TD Cowen started coverage on Viridian Therapeutics in a report on Monday, November 25th. They set a “buy” rating for the company. Needham & Company LLC reissued a “buy” rating and issued a $38.00 price objective on shares of Viridian Therapeutics in a research note on Monday, November 25th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $44.00 target price on shares of Viridian Therapeutics in a research report on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.67.

Viridian Therapeutics Stock Down 3.3 %

Shares of NASDAQ:VRDN opened at $20.82 on Monday. The firm has a market cap of $1.65 billion, a P/E ratio of -4.83 and a beta of 1.04. Viridian Therapeutics has a 12-month low of $11.40 and a 12-month high of $27.20. The business has a fifty day simple moving average of $21.95 and a 200 day simple moving average of $18.05. 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 (NASDAQ:VRDN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.08 million. Analysts predict that Viridian Therapeutics will post -4.03 earnings per share for the current year.

Insider Buying and Selling

In other Viridian Therapeutics news, CEO Stephen F. Mahoney purchased 21,400 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was acquired 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 owns 21,400 shares of the company’s stock, valued at $499,262. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Thomas W. Beetham acquired 5,000 shares of the stock in a transaction on Friday, September 27th. The shares were 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 approximately $140,460. The trade was a 500.00 % increase in their position. The disclosure for this purchase can be found here. 0.65% of the stock is owned by company insiders.

Hedge Funds Weigh In On Viridian Therapeutics

A number of hedge funds have recently added to or reduced their stakes in VRDN. SG Americas Securities LLC bought a new position in shares of Viridian Therapeutics in the second quarter valued at approximately $599,000. Hennion & Walsh Asset Management Inc. lifted its stake 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 acquiring an additional 69,035 shares in the last quarter. AlphaCentric Advisors LLC grew its stake in shares of Viridian Therapeutics by 108.3% in the 2nd quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock worth $163,000 after acquiring an additional 6,500 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Viridian Therapeutics by 37.4% in the second quarter. Bank of New York Mellon Corp now owns 208,676 shares of the company’s stock valued at $2,715,000 after purchasing an additional 56,814 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Viridian Therapeutics by 24.6% during the second 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 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.