Needham & Company LLC Reaffirms Buy Rating for Viridian Therapeutics (NASDAQ:VRDN)

Needham & Company LLC reaffirmed their buy rating on shares of Viridian Therapeutics (NASDAQ:VRDN) in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a $38.00 price target on the stock.

Several other research firms also recently commented on VRDN. HC Wainwright reissued a “buy” rating and set a $34.00 target price on shares of Viridian Therapeutics in a research report on Monday, December 16th. Royal Bank of Canada increased their price objective on Viridian Therapeutics from $44.00 to $47.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. The Goldman Sachs Group lifted their target price on Viridian Therapeutics from $25.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. TD Cowen began coverage on Viridian Therapeutics in a research report on Monday, November 25th. They issued a “buy” rating for the company. Finally, BTIG Research raised their price objective on Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.70.

Viridian Therapeutics Stock Down 8.4 %

VRDN stock opened at $19.15 on Tuesday. The stock’s 50 day simple moving average is $20.63 and its 200 day simple moving average is $18.81. The company has a market cap of $1.52 billion, a P/E ratio of -4.44 and a beta of 1.13. The company has a debt-to-equity ratio of 0.04, a quick ratio of 18.55 and a current ratio of 18.55. Viridian Therapeutics has a fifty-two week low of $11.40 and a fifty-two week high of $27.20.

Viridian Therapeutics (NASDAQ:VRDN) last issued 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 firm had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.08 million. On average, research analysts expect that Viridian Therapeutics will post -4.03 earnings per share for the current fiscal year.

Institutional Trading of Viridian Therapeutics

Several hedge funds have recently added to or reduced their stakes in VRDN. Arizona State Retirement System grew its position in shares of Viridian Therapeutics by 14.7% during the 2nd quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock valued at $171,000 after acquiring an additional 1,688 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Viridian Therapeutics by 17.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,997 shares of the company’s stock valued at $318,000 after purchasing an additional 2,036 shares during the period. AlphaCentric Advisors LLC increased its position in Viridian Therapeutics by 20.0% in the third quarter. AlphaCentric Advisors LLC now owns 15,000 shares of the company’s stock worth $341,000 after buying an additional 2,500 shares during the last quarter. DCF Advisers LLC raised its stake in shares of Viridian Therapeutics by 22.4% in the second quarter. DCF Advisers LLC now owns 17,750 shares of the company’s stock valued at $231,000 after buying an additional 3,250 shares during the period. Finally, Quest Partners LLC lifted its position 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 valued at $79,000 after buying an additional 4,692 shares during 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.