Viridian Therapeutics’ (VRDN) Buy Rating Reaffirmed at Needham & Company LLC

Viridian Therapeutics (NASDAQ:VRDN)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a research note issued on Monday,Benzinga reports. They presently have a $38.00 price objective on the stock. Needham & Company LLC’s price target would indicate a potential upside of 73.44% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. Oppenheimer restated an “outperform” rating and issued a $28.00 price target (down previously from $31.00) on shares of Viridian Therapeutics in a research note on Monday, August 12th. The Goldman Sachs Group boosted their target price on Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. BTIG Research upped their target price on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. HC Wainwright lifted their price target on shares of Viridian Therapeutics from $27.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Wedbush reissued an “outperform” rating and set a $42.00 price objective on shares of Viridian Therapeutics in a report on Monday, July 29th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $36.33.

Viridian Therapeutics Stock Up 4.2 %

NASDAQ:VRDN opened at $21.91 on Monday. 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 firm has a market cap of $1.74 billion, a P/E ratio of -5.08 and a beta of 1.10. Viridian Therapeutics has a fifty-two week low of $11.40 and a fifty-two week high of $27.20. The firm has a 50-day simple moving average of $22.72 and a two-hundred day simple moving average of $17.24.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $0.08 million. Analysts predict that Viridian Therapeutics will post -4.04 earnings per share for the current fiscal year.

Insider Transactions at Viridian Therapeutics

In related news, CEO Stephen F. Mahoney acquired 21,400 shares of Viridian Therapeutics stock in a transaction dated Friday, September 27th. The stock was purchased at an average cost 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 approximately $499,262. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Thomas W. Beetham bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was bought at an average cost of $23.41 per share, for a total transaction of $117,050.00. Following the completion of the acquisition, the chief operating officer now owns 6,000 shares in the company, valued at $140,460. This trade represents a 500.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 1,626,400 shares of company stock worth $30,616,312 in the last quarter. Company insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Quest Partners LLC raised its stake in Viridian Therapeutics by 344.0% during 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 period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Viridian Therapeutics in the third quarter worth $149,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Viridian Therapeutics during the 3rd quarter valued at $208,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Viridian Therapeutics by 24.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock valued at $156,000 after buying an additional 2,359 shares in the last quarter. Finally, AlphaCentric Advisors LLC boosted its holdings in 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 buying an additional 6,500 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.