Needham & Company LLC Reiterates “Buy” Rating for Viridian Therapeutics (NASDAQ:VRDN)

by · The Markets Daily

Viridian Therapeutics (NASDAQ:VRDN – Get Free Report)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a report released on Monday,Benzinga reports. They presently have a $32.00 target price on the stock. Needham & Company LLC’s price target would indicate a potential upside of 78.77% from the stock’s current price.

VRDN has been the subject of a number of other reports. The Goldman Sachs Group reduced their price target on shares of Viridian Therapeutics from $36.00 to $31.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Wedbush lowered their price objective on shares of Viridian Therapeutics from $37.00 to $31.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 8th. HC Wainwright dropped their price objective on shares of Viridian Therapeutics from $34.00 to $22.00 and set a “buy” rating on the stock in a research note on Tuesday, March 31st. Evercore set a $26.00 target price on shares of Viridian Therapeutics in a research report on Friday, May 15th. Finally, Stifel Nicolaus set a $39.00 target price on shares of Viridian Therapeutics in a research note on Wednesday, May 13th. Twelve investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.14.

Check Out Our Latest Stock Report on Viridian Therapeutics

Viridian Therapeutics Stock Performance

Shares of VRDN stock opened at $17.90 on Monday. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of -5.39 and a beta of 0.90. Viridian Therapeutics has a 1-year low of $13.18 and a 1-year high of $34.29. The company has a current ratio of 15.15, a quick ratio of 15.15 and a debt-to-equity ratio of 0.10. The stock’s fifty day simple moving average is $16.25 and its 200-day simple moving average is $24.21.

Viridian Therapeutics (NASDAQ:VRDN – Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.90) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.06) by $0.16. Viridian Therapeutics had a negative return on equity of 80.19% and a negative net margin of 490.31%.The firm had revenue of $0.14 million during the quarter, compared to the consensus estimate of $0.04 million. During the same period in the prior year, the business earned ($0.87) EPS. The business’s revenue for the quarter was up 95.8% on a year-over-year basis. On average, sell-side analysts predict that Viridian Therapeutics will post -3.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Viridian Therapeutics

In related news, Director Fairmount Funds Management Llc purchased 1,176,470 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was bought at an average price of $17.00 per share, for a total transaction of $19,999,990.00. Following the purchase, the director owned 5,090,928 shares in the company, valued at $86,545,776. The trade was a 30.05% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Viridian Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ANTIPODES PARTNERS Ltd acquired a new position in Viridian Therapeutics during the fourth quarter valued at approximately $36,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Viridian Therapeutics in the third quarter valued at approximately $35,000. KBC Group NV bought a new stake in shares of Viridian Therapeutics in the first quarter valued at approximately $34,000. Larson Financial Group LLC acquired a new stake in shares of Viridian Therapeutics in the third quarter worth $52,000. Finally, US Bancorp DE grew its stake in shares of Viridian Therapeutics by 23.2% in the third quarter. US Bancorp DE now owns 2,457 shares of the company’s stock worth $53,000 after acquiring an additional 463 shares during the last quarter.

About Viridian Therapeutics

(Get Free Report)

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.

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