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 report published on Tuesday morning,Benzinga reports. The firm currently has a $38.00 target price on the stock.

A number of other research firms have also recently commented on VRDN. BTIG Research boosted their price target on Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. TD Cowen started coverage on shares of Viridian Therapeutics in a report on Monday, November 25th. They issued a “buy” rating for the company. HC Wainwright reaffirmed a “buy” rating and set a $34.00 price target on shares of Viridian Therapeutics in a report on Monday, December 16th. Wells Fargo & Company restated an “equal weight” rating and issued a $27.00 target price (down previously from $37.00) on shares of Viridian Therapeutics in a research report on Thursday, December 19th. Finally, The Goldman Sachs Group upped their price target on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Three 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.com, the company has an average rating of “Moderate Buy” and an average target price of $35.70.

Viridian Therapeutics Stock Down 8.4 %

VRDN stock opened at $19.15 on Tuesday. Viridian Therapeutics has a 52 week low of $11.40 and a 52 week high of $27.20. The business has a 50-day simple moving average of $20.63 and a 200 day simple moving average of $18.81. The company has a quick ratio of 18.55, a current ratio of 18.55 and a debt-to-equity ratio of 0.04. The company has a market cap of $1.52 billion, a PE ratio of -4.44 and a beta of 1.13.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly 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). The firm had revenue of $0.09 million for 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%. Sell-side analysts anticipate that Viridian Therapeutics will post -4.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Viridian Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC lifted its position in shares of Viridian Therapeutics by 16.8% in the 3rd quarter. FMR LLC now owns 11,183,478 shares of the company’s stock worth $254,424,000 after purchasing an additional 1,610,130 shares during the period. Novo Holdings A S boosted its position in Viridian Therapeutics by 81.8% during the second quarter. Novo Holdings A S now owns 2,000,000 shares of the company’s stock valued at $26,020,000 after acquiring an additional 900,000 shares during the last quarter. Maverick Capital Ltd. grew its holdings in Viridian Therapeutics by 22.9% during the 2nd quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock worth $43,036,000 after acquiring an additional 615,531 shares during the period. Parkman Healthcare Partners LLC acquired a new position in shares of Viridian Therapeutics in the 3rd quarter valued at about $9,669,000. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Viridian Therapeutics during the 3rd quarter valued at about $8,917,000.

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.