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 note issued to investors on Monday morning,Benzinga reports. Needham & Company LLC currently has a $38.00 price target on the stock.

Several other research firms have also recently commented on VRDN. The Goldman Sachs Group lifted their target price on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. HC Wainwright lifted their price target on Viridian Therapeutics from $27.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. TD Cowen started coverage on Viridian Therapeutics in a research report on Monday. They set a “buy” rating for the company. BTIG Research boosted their price target on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, 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, September 19th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Viridian Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $36.33.

Viridian Therapeutics Trading Down 0.2 %

Shares of Viridian Therapeutics stock opened at $21.87 on Monday. The company has a market capitalization of $1.73 billion, a P/E ratio of -5.07 and a beta of 1.10. The stock has a fifty day simple moving average of $22.73 and a 200 day simple moving average of $17.30. 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 posted its earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by ($0.04). Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. The firm had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.08 million. On average, sell-side analysts anticipate that Viridian Therapeutics will post -4.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Viridian Therapeutics

In related news, Director Fairmount Funds Management Llc acquired 1,600,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were bought at an average cost of $18.75 per share, for a total transaction of $30,000,000.00. Following the purchase, the director now owns 3,445,813 shares in the company, valued at $64,608,993.75. This trade represents a 86.68 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Stephen F. Mahoney acquired 21,400 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average cost of $23.33 per share, for a total transaction of $499,262.00. Following the acquisition, 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. Insiders have acquired a total of 1,626,400 shares of company stock valued at $30,616,312 over the last three months. 0.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Viridian Therapeutics

Several hedge funds have recently bought and sold shares of the company. Quest Partners LLC grew its position 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 purchasing an additional 4,692 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Viridian Therapeutics during the third quarter worth about $149,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Viridian Therapeutics in the 3rd quarter worth about $208,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings 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 valued at $156,000 after acquiring an additional 2,359 shares in the last quarter. Finally, AlphaCentric Advisors LLC boosted its position in shares of Viridian Therapeutics by 108.3% during the 2nd quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock valued at $163,000 after acquiring an additional 6,500 shares during the last quarter.

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.