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 report released on Monday morning,Benzinga reports. They currently have a $38.00 price target on the stock.

A number of other analysts have also weighed in on the company. Oppenheimer restated an “outperform” rating and issued a $28.00 target price (down from $31.00) on shares of Viridian Therapeutics in a research note on Monday, August 12th. The Goldman Sachs Group raised their price objective on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Wedbush reiterated an “outperform” rating and set a $42.00 target price on shares of Viridian Therapeutics in a research report on Monday, July 29th. TD Cowen initiated coverage on shares of Viridian Therapeutics in a report on Monday. They issued a “buy” rating for the company. Finally, BTIG Research boosted their price objective on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Viridian Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $36.33.

Viridian Therapeutics Trading Down 0.2 %

Shares of VRDN opened at $21.87 on Monday. The company has a current ratio of 18.55, a quick ratio of 18.55 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.73 billion, a PE ratio of -5.07 and a beta of 1.10. Viridian Therapeutics has a 1 year low of $11.40 and a 1 year high of $27.20. The stock has a 50 day simple moving average of $22.75 and a 200-day simple moving average of $17.33.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings data 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 company 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%. On average, sell-side analysts predict that Viridian Therapeutics will post -4.04 EPS for the current fiscal year.

Insider Buying and Selling at Viridian Therapeutics

In other news, COO Thomas W. Beetham acquired 5,000 shares of Viridian Therapeutics stock in a transaction that occurred on Friday, September 27th. The shares were acquired at an average price of $23.41 per share, with a total value of $117,050.00. Following the purchase, the chief operating officer now directly owns 6,000 shares of the company’s stock, valued at $140,460. The trade was a 500.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen F. Mahoney bought 21,400 shares of the stock in a transaction on Friday, September 27th. The stock was purchased at an average cost of $23.33 per share, with a total value 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 represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 1,626,400 shares of company stock valued at $30,616,312. 0.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Viridian Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. increased its stake in Viridian Therapeutics by 62.9% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 178,855 shares of the company’s stock worth $2,327,000 after purchasing an additional 69,035 shares in the last quarter. Rhumbline Advisers increased its position in shares of Viridian Therapeutics by 34.5% during the second quarter. Rhumbline Advisers now owns 90,826 shares of the company’s stock worth $1,182,000 after acquiring an additional 23,305 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Viridian Therapeutics by 7.8% during the first quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company’s stock worth $56,632,000 after acquiring an additional 233,331 shares during the period. Candriam S.C.A. raised its holdings in shares of Viridian Therapeutics by 167.8% during the second quarter. Candriam S.C.A. now owns 749,804 shares of the company’s stock worth $9,754,000 after acquiring an additional 469,804 shares during the period. Finally, Great Point Partners LLC lifted its position in Viridian Therapeutics by 50.0% in the 3rd quarter. Great Point Partners LLC now owns 750,000 shares of the company’s stock valued at $17,062,000 after acquiring an additional 250,000 shares in the last quarter.

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.