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

Viridian Therapeutics (NASDAQ:VRDN)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a note issued to investors on Tuesday,Benzinga reports. They currently have a $36.00 price objective on the stock. Needham & Company LLC’s target price would indicate a potential upside of 170.98% from the company’s previous close.

VRDN has been the topic of several other reports. The Goldman Sachs Group decreased their price objective on shares of Viridian Therapeutics from $31.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. HC Wainwright reissued a “buy” rating and set a $34.00 price objective on shares of Viridian Therapeutics in a report on Wednesday, April 23rd. Royal Bank of Canada cut their price target on Viridian Therapeutics from $46.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Finally, JMP Securities cut their price target on shares of Viridian Therapeutics from $42.00 to $38.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $36.70.

Viridian Therapeutics Stock Performance

Shares of NASDAQ VRDN traded up $0.47 during mid-day trading on Tuesday, hitting $13.29. The company had a trading volume of 392,694 shares, compared to its average volume of 1,189,938. The business’s 50-day simple moving average is $13.33 and its 200-day simple moving average is $17.04. 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 12 month low of $9.90 and a 12 month high of $27.20. The firm has a market cap of $1.08 billion, a P/E ratio of -3.07 and a beta of 0.57.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.87) EPS for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.08. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. The company had revenue of $0.07 million during the quarter, compared to the consensus estimate of $0.16 million. Viridian Therapeutics’s revenue was up .0% compared to the same quarter last year. As a group, analysts predict that Viridian Therapeutics will post -4.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC boosted its holdings in Viridian Therapeutics by 6.2% during the fourth quarter. FMR LLC now owns 11,881,912 shares of the company’s stock worth $227,776,000 after purchasing an additional 698,434 shares during the last quarter. Vanguard Group Inc. raised its holdings in Viridian Therapeutics by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 4,595,049 shares of the company’s stock valued at $88,087,000 after acquiring an additional 174,952 shares during the period. Deep Track Capital LP lifted its holdings in Viridian Therapeutics by 20.6% during the 4th quarter. Deep Track Capital LP now owns 4,522,741 shares of the company’s stock worth $86,701,000 after purchasing an additional 771,796 shares during the last quarter. Tang Capital Management LLC lifted its holdings in shares of Viridian Therapeutics by 11.1% during the fourth quarter. Tang Capital Management LLC now owns 2,492,925 shares of the company’s stock worth $47,789,000 after buying an additional 250,000 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in Viridian Therapeutics by 3.8% in the 4th quarter. Alliancebernstein L.P. now owns 2,286,994 shares of the company’s stock worth $43,842,000 after purchasing an additional 84,255 shares in 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.