Viridian Therapeutics (NASDAQ:VRDN) Given Buy Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Viridian Therapeutics (NASDAQ:VRDN) in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a $34.00 price target on the stock.

Other equities analysts have also issued reports about the stock. BTIG Research raised their target price 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. Royal Bank of Canada restated an “outperform” rating and set a $44.00 price objective on shares of Viridian Therapeutics in a report on Thursday, December 5th. 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. Needham & Company LLC reissued a “buy” rating and set a $38.00 price target on shares of Viridian Therapeutics in a research report on Monday, November 25th. Finally, TD Cowen started coverage on Viridian Therapeutics in a report on Monday, November 25th. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.33.

Viridian Therapeutics Stock Performance

NASDAQ:VRDN opened at $21.54 on Monday. The stock has a 50-day moving average price of $22.00 and a 200 day moving average price of $17.99. The stock has a market capitalization of $1.71 billion, a P/E ratio of -5.00 and a beta of 1.04. Viridian Therapeutics has a 12-month low of $11.40 and a 12-month high of $27.20. The company has a current ratio of 18.55, a quick ratio of 18.55 and a debt-to-equity ratio of 0.04.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The business had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.08 million. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. Equities research analysts forecast that Viridian Therapeutics will post -4.03 EPS for the current fiscal year.

Insider Buying and Selling at Viridian Therapeutics

In other Viridian Therapeutics news, COO Thomas W. Beetham purchased 5,000 shares of the stock in a transaction on Friday, September 27th. The stock was acquired at an average price of $23.41 per share, with a total value of $117,050.00. Following the completion of the acquisition, the chief operating officer now owns 6,000 shares in the company, 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 SEC, which can be accessed through this link. Also, CEO Stephen F. Mahoney purchased 21,400 shares of the business’s stock in a transaction on Friday, September 27th. The shares were bought at an average price of $23.33 per share, for a total transaction of $499,262.00. Following the purchase, the chief executive officer now directly owns 21,400 shares in the company, valued at $499,262. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.65% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in Viridian Therapeutics during the second quarter worth $599,000. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Viridian Therapeutics by 62.9% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 178,855 shares of the company’s stock worth $2,327,000 after acquiring an additional 69,035 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 purchasing an additional 6,500 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Viridian Therapeutics by 37.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 208,676 shares of the company’s stock valued at $2,715,000 after purchasing an additional 56,814 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in 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 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.