Viridian Therapeutics (NASDAQ:VRDN) Stock Price Expected to Rise, Leerink Partners Analyst Says

Viridian Therapeutics (NASDAQ:VRDN) had its target price hoisted by equities research analysts at Leerink Partners from $50.00 to $54.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Leerink Partners‘s target price suggests a potential upside of 89.54% from the company’s previous close.

VRDN has been the topic of several other reports. HC Wainwright boosted their target price on Viridian Therapeutics from $22.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday. Royal Bank Of Canada raised their price target on Viridian Therapeutics from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Tuesday, September 22nd. Weiss Ratings upgraded Viridian Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 14th. Wells Fargo & Company upped their price objective on shares of Viridian Therapeutics from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Wall Street Zen lowered shares of Viridian Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Sunday, October 4th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Viridian Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Viridian Therapeutics Stock Down 0.2%

VRDN traded down $0.06 during trading on Thursday, hitting $28.49. The stock had a trading volume of 4,487,163 shares, compared to its average volume of 2,101,929. The stock has a 50 day simple moving average of $21.97 and a two-hundred day simple moving average of $21.81. The company has a debt-to-equity ratio of 0.43, a quick ratio of 16.95 and a current ratio of 16.95. Viridian Therapeutics has a twelve month low of $13.18 and a twelve month high of $34.29. The company has a market capitalization of $3.23 billion, a PE ratio of -7.42 and a beta of 1.07.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings results on Wednesday, November 4th. The company reported ($0.81) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.21. Viridian Therapeutics had a negative return on equity of 72.97% and a negative net margin of 505.86%. The business had revenue of $25.75 million for the quarter, compared to the consensus estimate of $4.72 million. On average, research analysts predict that Viridian Therapeutics will post -3.94 earnings per share for the current year.

Insider Transactions at Viridian Therapeutics

In related news, insider Jennifer Tousignant sold 14,212 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $24.50, for a total value of $348,194.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.40% of the stock is owned by company insiders.

Institutional Trading of Viridian Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Parkman Healthcare Partners LLC acquired a new position in shares of Viridian Therapeutics in the second quarter valued at about $25,306,000. Rice Hall James & Associates LLC acquired a new stake in shares of Viridian Therapeutics during the second quarter worth about $21,601,000. Elmind Capital LP acquired a new stake in shares of Viridian Therapeutics during the second quarter worth about $18,093,182. Bank of America Corp DE acquired a new stake in shares of Viridian Therapeutics during the second quarter worth about $17,348,000. Finally, Deutsche Bank AG purchased a new stake in Viridian Therapeutics in the second quarter valued at approximately $8,870,000.

Key Stories Impacting Viridian Therapeutics

Here are the key news stories impacting Viridian Therapeutics this week:

• Positive Sentiment: Viridian reported a third-quarter loss of $0.81 per share, narrower than analysts’ roughly $1.02-per-share estimate. The earnings beat, alongside optimism around the Lumvoa launch, has supported investor interest. Viridian Therapeutics Stock Rises 5% Despite Wider Q3 Loss
• Positive Sentiment: Analysts raised targets and maintained bullish ratings. Recent increases include Leerink Partners to $54, RBC to $41, Truist to $42, Wells Fargo to $34, Wedbush to $42 and HC Wainwright to $40. Zacks also noted a positive trend in earnings estimate revisions, though price targets are not guarantees. Zacks analyst outlook
• Neutral Sentiment: The company will present Phase 1 results for VRDN-008 and outline plans for its FcRn portfolio on November 9. The data and development plans could provide meaningful signals about the pipeline, but the outcome is not yet known. VRDN-008 conference call announcement

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious autoimmune diseases. The company’s lead research area is thyroid eye disease (TED), a debilitating condition that can cause eye inflammation, swelling, pain and vision-related complications.

Viridian’s pipeline is centered on antibodies designed to inhibit the insulin-like growth factor-1 receptor (IGF-1R), a target associated with TED. Its investigational therapies include veligrotug (VRDN-001), an intravenous treatment candidate, and VRDN-003, a subcutaneous formulation being developed to provide a more convenient administration option.