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

HC Wainwright reissued their buy rating on shares of Viridian Therapeutics (NASDAQ:VRDN) in a report released on Tuesday, Benzinga reports. The brokerage currently has a $27.00 price target on the stock.

A number of other equities research analysts also recently weighed in on the stock. Oppenheimer reiterated an outperform rating and issued a $28.00 price target (down from $31.00) on shares of Viridian Therapeutics in a research report on Monday, August 12th. BTIG Research lifted their price objective on Viridian Therapeutics from $46.00 to $56.00 and gave the company a buy rating in a report on Tuesday. Wolfe Research assumed coverage on Viridian Therapeutics in a report on Tuesday, June 11th. They set an outperform rating and a $29.00 target price on the stock. Wedbush reaffirmed an outperform rating and issued a $42.00 price target on shares of Viridian Therapeutics in a research note on Monday, July 29th. Finally, The Goldman Sachs Group initiated coverage on shares of Viridian Therapeutics in a research note on Thursday, June 6th. They set a buy rating and a $23.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $34.91.

Viridian Therapeutics Trading Up 4.5 %

Shares of NASDAQ:VRDN opened at $20.70 on Tuesday. The company has a 50-day simple moving average of $15.20 and a 200 day simple moving average of $15.03. The company has a market capitalization of $1.32 billion, a P/E ratio of -4.60 and a beta of 1.03. The company has a debt-to-equity ratio of 0.05, a quick ratio of 15.82 and a current ratio of 15.82. Viridian Therapeutics has a 52-week low of $10.93 and a 52-week high of $24.18.

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

Institutional Investors Weigh In On Viridian Therapeutics

Several hedge funds have recently added to or reduced their stakes in VRDN. Quest Partners LLC boosted its holdings in Viridian Therapeutics by 344.0% in the second quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock valued at $79,000 after acquiring an additional 4,692 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position 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 worth $87,000 after purchasing an additional 799 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Viridian Therapeutics by 24.6% in the 2nd 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 during the last quarter. AlphaCentric Advisors LLC increased its position in shares of 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 period. Finally, Arizona State Retirement System increased its position in shares of Viridian Therapeutics by 14.7% during the second quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock worth $171,000 after buying an additional 1,688 shares during the period.

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.