Viridian Therapeutics’ (VRDN) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Viridian Therapeutics (NASDAQ:VRDN) in a research report released on Wednesday morning,Benzinga reports. They currently have a $38.00 target price on the stock.

A number of other analysts have also weighed in on the stock. Wedbush reiterated an “outperform” rating and set a $42.00 target price on shares of Viridian Therapeutics in a report on Monday, July 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $44.00 price objective on shares of Viridian Therapeutics in a report on Thursday, September 19th. BTIG Research boosted their target price on Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. HC Wainwright reiterated a “buy” rating and issued a $27.00 price target on shares of Viridian Therapeutics in a report on Tuesday, September 10th. Finally, Oppenheimer reissued an “outperform” rating and set a $28.00 price objective (down from $31.00) on shares of Viridian Therapeutics in a research report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Viridian Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $36.33.

Viridian Therapeutics Stock Down 6.9 %

Shares of NASDAQ VRDN opened at $20.14 on Wednesday. The company has a market cap of $1.60 billion, a price-to-earnings ratio of -4.67 and a beta of 1.10. The company has a quick ratio of 15.82, a current ratio of 15.82 and a debt-to-equity ratio of 0.05. The firm’s fifty day moving average is $22.64 and its 200 day moving average is $16.97. Viridian Therapeutics has a 52 week low of $11.40 and a 52 week high of $27.20.

Insider Buying and Selling

In other news, CEO Stephen F. Mahoney bought 21,400 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was acquired at an average cost of $23.33 per share, with a total value of $499,262.00. Following the completion of the acquisition, the chief executive officer now owns 21,400 shares of the company’s stock, valued at approximately $499,262. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Thomas W. Beetham purchased 5,000 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were purchased at an average price of $23.41 per share, for a total transaction of $117,050.00. Following the acquisition, the chief operating officer now owns 6,000 shares of the company’s stock, valued at approximately $140,460. The trade was a 500.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 1,626,400 shares of company stock worth $30,616,312 in the last 90 days. Insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Quest Partners LLC boosted its holdings 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 acquiring an additional 4,692 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in Viridian Therapeutics by 19.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock valued at $87,000 after buying an additional 799 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Viridian Therapeutics during the 3rd quarter valued at $149,000. 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 worth $156,000 after buying an additional 2,359 shares during the last quarter. Finally, AlphaCentric Advisors LLC grew its holdings in shares of Viridian Therapeutics by 108.3% in the second quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock worth $163,000 after acquiring an additional 6,500 shares during the period.

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.