Viridian Therapeutics (NASDAQ:VRDN) Rating Reiterated by Needham & Company LLC

Viridian Therapeutics (NASDAQ:VRDN)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research note issued to investors on Monday, Benzinga reports. They presently have a $38.00 target price on the stock. Needham & Company LLC’s price target points to a potential upside of 67.11% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Wedbush restated an “outperform” rating and issued a $42.00 price objective on shares of Viridian Therapeutics in a research note on Monday, July 29th. HC Wainwright reissued a “buy” rating and issued a $27.00 price target on shares of Viridian Therapeutics in a report on Tuesday, September 10th. The Goldman Sachs Group boosted their price target on Viridian Therapeutics from $25.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Oppenheimer reissued an “outperform” rating and issued a $28.00 price target (down from $31.00) on shares of Viridian Therapeutics in a report on Monday, August 12th. Finally, BTIG Research boosted their price target on Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a 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 company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $35.80.

Viridian Therapeutics Price Performance

Shares of NASDAQ VRDN opened at $22.74 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 15.82 and a current ratio of 15.82. The company has a market cap of $1.45 billion, a PE ratio of -5.35 and a beta of 1.08. The business has a 50-day simple moving average of $20.51 and a two-hundred day simple moving average of $16.20. Viridian Therapeutics has a fifty-two week low of $11.40 and a fifty-two week high of $25.39.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings data 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). 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 analysts’ expectations of $0.09 million. As a group, equities analysts expect that Viridian Therapeutics will post -3.94 EPS for the current fiscal year.

Insider Transactions at Viridian Therapeutics

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc bought 1,600,000 shares of Viridian Therapeutics stock in a transaction dated Friday, September 13th. The stock was acquired at an average cost of $18.75 per share, with a total value of $30,000,000.00. Following the purchase, the director now directly owns 3,445,813 shares in the company, valued at $64,608,993.75. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 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 stock was purchased at an average cost of $23.41 per share, with a total value of $117,050.00. Following the purchase, the chief operating officer now owns 6,000 shares in the company, valued at $140,460. This trade represents a 500.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Fairmount Funds Management Llc acquired 1,600,000 shares of Viridian Therapeutics stock in a transaction that occurred on Friday, September 13th. The stock was purchased at an average cost of $18.75 per share, with a total value of $30,000,000.00. Following the completion of the purchase, the director now owns 3,445,813 shares in the company, valued at $64,608,993.75. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 1,626,400 shares of company stock valued at $30,616,312 in the last three months. 0.65% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Novo Holdings A S grew its holdings in Viridian Therapeutics by 19.3% in the 3rd quarter. Novo Holdings A S now owns 2,385,000 shares of the company’s stock valued at $54,259,000 after buying an additional 385,000 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in Viridian Therapeutics by 10.4% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 197,401 shares of the company’s stock valued at $4,491,000 after buying an additional 18,546 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Viridian Therapeutics in the 3rd quarter valued at $455,000. Algert Global LLC grew its holdings in Viridian Therapeutics by 46.7% in the 2nd quarter. Algert Global LLC now owns 55,493 shares of the company’s stock valued at $722,000 after buying an additional 17,673 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Viridian Therapeutics by 30.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,687 shares of the company’s stock valued at $412,000 after buying an additional 7,450 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.