Viridian Therapeutics (NASDAQ:VRDN) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Viridian Therapeutics (NASDAQ:VRDN) in a research report released on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a $42.00 price target on the stock.

Several other equities analysts also recently commented on the company. UBS Group began coverage on Viridian Therapeutics in a research report on Wednesday, January 7th. They set a “buy” rating and a $50.00 target price for the company. Wedbush raised their price target on Viridian Therapeutics from $42.00 to $47.00 and gave the company an “outperform” rating in a report on Wednesday, December 10th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $40.00 price target on shares of Viridian Therapeutics in a report on Thursday, November 6th. Oppenheimer boosted their target price on shares of Viridian Therapeutics from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Finally, William Blair started coverage on shares of Viridian Therapeutics in a research note on Wednesday, December 3rd. They set an “outperform” rating on the stock. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $42.64.

Viridian Therapeutics Stock Performance

Shares of NASDAQ VRDN opened at $31.90 on Wednesday. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of -10.56 and a beta of 0.98. Viridian Therapeutics has a one year low of $9.90 and a one year high of $34.29. The business has a fifty day simple moving average of $32.14 and a 200 day simple moving average of $25.05. The company has a current ratio of 11.28, a quick ratio of 11.28 and a debt-to-equity ratio of 0.07.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.82) by $0.48. Viridian Therapeutics had a negative net margin of 426.58% and a negative return on equity of 78.50%. The firm had revenue of $70.57 million for the quarter, compared to analyst estimates of $16.21 million. The business’s revenue for the quarter was up 81993.0% compared to the same quarter last year. Sell-side analysts expect that Viridian Therapeutics will post -4.03 EPS for the current year.

Insider Transactions at Viridian Therapeutics

In other Viridian Therapeutics news, insider Jennifer Tousignant sold 2,272 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $31.16, for a total value of $70,795.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.65% of the company’s stock.

Institutional Trading of Viridian Therapeutics

Several hedge funds have recently added to or reduced their stakes in VRDN. Simplify Asset Management Inc. acquired a new stake in Viridian Therapeutics during the 3rd quarter worth approximately $1,079,000. Corton Capital Inc. bought a new stake in shares of Viridian Therapeutics during the second quarter worth $248,000. Moody Aldrich Partners LLC raised its holdings in shares of Viridian Therapeutics by 54.2% during the second quarter. Moody Aldrich Partners LLC now owns 89,164 shares of the company’s stock worth $1,247,000 after acquiring an additional 31,323 shares during the period. Rice Hall James & Associates LLC lifted its position in Viridian Therapeutics by 65.2% in the 3rd quarter. Rice Hall James & Associates LLC now owns 851,663 shares of the company’s stock valued at $18,379,000 after acquiring an additional 336,040 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its stake in Viridian Therapeutics by 430.3% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 64,594 shares of the company’s stock worth $1,394,000 after purchasing an additional 52,414 shares during the period.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc (NASDAQ: VRDN) is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted antibody therapeutics for patients suffering from rare and serious diseases. The company’s lead program, VRDN-001, is a fully human monoclonal antibody that antagonizes the insulin-like growth factor-1 receptor (IGF-1R), with an initial focus on thyroid eye disease (TED). By selectively inhibiting IGF-1R signaling, VRDN-001 aims to reduce inflammation and tissue remodeling associated with TED and related disorders.

In addition to VRDN-001, Viridian is advancing a second antibody program, VRDN-002, which targets complement-mediated pathways implicated in autoimmune and inflammatory diseases.