Needham & Company LLC Increases Viridian Therapeutics (NASDAQ:VRDN) Price Target to $38.00

Viridian Therapeutics (NASDAQ:VRDN) had its price objective lifted by equities research analysts at Needham & Company LLC from $30.00 to $38.00 in a research report issued on Wednesday, MarketBeat reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective points to a potential upside of 102.67% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. The Goldman Sachs Group initiated coverage on shares of Viridian Therapeutics in a research report on Thursday, June 6th. They set a “buy” rating and a $23.00 price objective on the stock. BTIG Research lifted their price target on Viridian Therapeutics from $46.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday. Wolfe Research initiated coverage on Viridian Therapeutics in a research note on Tuesday, June 11th. They issued an “outperform” rating and a $29.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $27.00 price objective on shares of Viridian Therapeutics in a research report on Tuesday. Finally, Oppenheimer reiterated an “outperform” rating and issued a $28.00 target price (down previously from $31.00) on shares of Viridian Therapeutics in a report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.18.

Viridian Therapeutics Trading Up 32.1 %

Shares of VRDN opened at $18.75 on Wednesday. The business’s 50-day moving average price is $14.88 and its 200 day moving average price is $14.96. The company has a current ratio of 15.82, a quick ratio of 15.82 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $1.20 billion, a P/E ratio of -4.17 and a beta of 1.03. Viridian Therapeutics has a 1-year low of $10.93 and a 1-year high of $24.18.

Viridian Therapeutics (NASDAQ:VRDN) last announced its earnings results on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.15). Viridian Therapeutics had a negative return on equity of 83.18% and a negative net margin of 79,185.77%. The firm had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.09 million. Analysts expect that Viridian Therapeutics will post -3.97 earnings per share for the current year.

Institutional Trading of Viridian Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Quest Partners LLC increased its stake in shares of 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 purchasing an additional 4,692 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of Viridian Therapeutics by 19.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock valued at $87,000 after purchasing an additional 799 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Viridian Therapeutics by 24.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock worth $156,000 after purchasing an additional 2,359 shares in the last quarter. AlphaCentric Advisors LLC increased its position in Viridian Therapeutics by 108.3% during the second 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 last quarter. Finally, Arizona State Retirement System raised its holdings in Viridian Therapeutics by 14.7% during the second quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock valued at $171,000 after buying an additional 1,688 shares in the last quarter.

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.