Viridian Therapeutics (NASDAQ:VRDN) Earns Buy Rating from Needham & Company LLC

Viridian Therapeutics (NASDAQ:VRDN)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $38.00 target price on the stock. Needham & Company LLC’s price objective suggests a potential upside of 89.34% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company restated an “equal weight” rating and set a $27.00 target price (down from $37.00) on shares of Viridian Therapeutics in a report on Thursday, December 19th. HC Wainwright restated a “buy” rating and set a $34.00 price objective on shares of Viridian Therapeutics in a research note on Monday, December 16th. TD Cowen assumed coverage on shares of Viridian Therapeutics in a research note on Monday, November 25th. They issued a “buy” rating for the company. The Goldman Sachs Group lifted their price target on Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Finally, BTIG Research upped 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. According to data from MarketBeat.com, Viridian Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $35.70.

Viridian Therapeutics Trading Down 0.6 %

Viridian Therapeutics stock opened at $20.07 on Tuesday. The company has a market cap of $1.59 billion, a price-to-earnings ratio of -4.66 and a beta of 1.13. The firm has a 50-day moving average of $20.77 and a 200-day moving average of $18.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 18.55 and a quick ratio of 18.55. Viridian Therapeutics has a one year low of $11.40 and a one year high of $27.20.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Viridian Therapeutics by 16.8% in the third quarter. FMR LLC now owns 11,183,478 shares of the company’s stock valued at $254,424,000 after acquiring an additional 1,610,130 shares in the last quarter. Novo Holdings A S boosted its holdings in Viridian Therapeutics by 81.8% in the 2nd quarter. Novo Holdings A S now owns 2,000,000 shares of the company’s stock valued at $26,020,000 after purchasing an additional 900,000 shares during the period. Maverick Capital Ltd. grew its position in shares of 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 purchasing an additional 615,531 shares in the last quarter. Parkman Healthcare Partners LLC bought a new position in shares of Viridian Therapeutics during the third quarter worth approximately $9,669,000. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Viridian Therapeutics in the third quarter valued at approximately $8,917,000.

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.