Viridian Therapeutics (NASDAQ:VRDN) Given Equal Weight Rating at Wells Fargo & Company

Wells Fargo & Company reissued their equal weight rating on shares of Viridian Therapeutics (NASDAQ:VRDN) in a research report report published on Thursday morning, Marketbeat reports. The brokerage currently has a $27.00 price objective on the stock, down from their previous price objective of $37.00.

Other analysts also recently issued research reports about the stock. TD Cowen initiated coverage on shares of Viridian Therapeutics in a report on Monday, November 25th. They issued a “buy” rating for the company. The Goldman Sachs Group increased their price target on Viridian Therapeutics from $25.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Needham & Company LLC reissued a “buy” rating and set a $38.00 price objective on shares of Viridian Therapeutics in a research note on Monday, November 25th. Royal Bank of Canada raised their target price on Viridian Therapeutics from $44.00 to $47.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Finally, BTIG Research lifted their price target on Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Viridian Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $35.70.

Viridian Therapeutics Stock Up 1.6 %

Shares of VRDN opened at $19.03 on Thursday. The stock has a 50 day moving average price of $21.72 and a 200 day moving average price of $18.11. Viridian Therapeutics has a one year low of $11.40 and a one year high of $27.20. 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 stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of -4.42 and a beta of 1.04.

Viridian Therapeutics (NASDAQ:VRDN) last announced its earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share (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%. Equities research analysts forecast that Viridian Therapeutics will post -4.03 earnings per share for the current fiscal year.

Insider Transactions at Viridian Therapeutics

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

Institutional Investors Weigh In On Viridian Therapeutics

Large investors have recently added to or reduced their stakes in the business. FMR LLC grew its stake in shares of Viridian Therapeutics by 16.8% in the third quarter. FMR LLC now owns 11,183,478 shares of the company’s stock worth $254,424,000 after acquiring an additional 1,610,130 shares in the last quarter. Novo Holdings A S boosted its holdings in Viridian Therapeutics by 81.8% in the second quarter. Novo Holdings A S now owns 2,000,000 shares of the company’s stock valued at $26,020,000 after purchasing an additional 900,000 shares during the period. Maverick Capital Ltd. grew its stake in Viridian Therapeutics by 22.9% during the 2nd quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock worth $43,036,000 after purchasing an additional 615,531 shares in the last quarter. Candriam S.C.A. increased its holdings in Viridian Therapeutics by 167.8% during the 2nd quarter. Candriam S.C.A. now owns 749,804 shares of the company’s stock worth $9,754,000 after purchasing an additional 469,804 shares during the period. Finally, Parkman Healthcare Partners LLC acquired a new stake in Viridian Therapeutics in the 3rd quarter valued at about $9,669,000.

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.