Viridian Therapeutics’ (VRDN) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Viridian Therapeutics (NASDAQ:VRDN) in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a $38.00 price target on the stock.

Other analysts also recently issued research reports about the stock. TD Cowen assumed coverage on shares of Viridian Therapeutics in a report on Monday, November 25th. They set a “buy” rating for the company. The Goldman Sachs Group increased their target price on Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Wells Fargo & Company restated an “equal weight” rating and issued a $27.00 price target (down from $37.00) on shares of Viridian Therapeutics in a research note on Thursday, December 19th. HC Wainwright reiterated a “buy” rating and set a $34.00 price objective on shares of Viridian Therapeutics in a research report on Monday, December 16th. Finally, Royal Bank of Canada boosted their target price on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.70.

Viridian Therapeutics Price Performance

Shares of NASDAQ VRDN opened at $20.91 on Tuesday. The company has a quick ratio of 18.55, a current ratio of 18.55 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average price is $20.73 and its two-hundred day moving average price is $18.80. The company has a market cap of $1.66 billion, a PE ratio of -4.85 and a beta of 1.13. Viridian Therapeutics has a twelve month low of $11.40 and a twelve month high of $27.20.

Viridian Therapeutics (NASDAQ:VRDN) last posted its earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share 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 business had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.08 million. On average, analysts predict that Viridian Therapeutics will post -4.03 EPS for the current year.

Hedge Funds Weigh In On Viridian Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC increased its stake in Viridian Therapeutics by 16.8% in the third 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 last quarter. Novo Holdings A S increased its stake in shares of Viridian Therapeutics by 81.8% in the 2nd 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 last quarter. Maverick Capital Ltd. raised its holdings in shares of 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 buying an additional 615,531 shares in the last quarter. Parkman Healthcare Partners LLC bought a new stake in shares of Viridian Therapeutics during the 3rd quarter worth $9,669,000. Finally, Lord Abbett & CO. LLC acquired a new stake in Viridian Therapeutics in the third quarter valued at about $8,917,000.

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.