Needham & Company LLC Forecasts Strong Price Appreciation for Viridian Therapeutics (NASDAQ:VRDN) Stock

Viridian Therapeutics (NASDAQ:VRDN) had its price objective boosted by research analysts at Needham & Company LLC from $34.00 to $42.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 27.10% from the stock’s previous close.

VRDN has been the subject of several other reports. Royal Bank Of Canada upped their price objective on Viridian Therapeutics from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Truist Financial set a $41.00 target price on shares of Viridian Therapeutics in a report on Monday, November 24th. William Blair started coverage on shares of Viridian Therapeutics in a research note on Wednesday, December 3rd. They issued an “outperform” rating on the stock. BTIG Research reiterated a “buy” rating and set a $61.00 price objective on shares of Viridian Therapeutics in a research report on Tuesday, November 4th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $40.00 target price on shares of Viridian Therapeutics in a research report on Thursday, November 6th. Eleven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.75.

Viridian Therapeutics Stock Performance

Shares of Viridian Therapeutics stock opened at $33.05 on Tuesday. The company has a current ratio of 11.28, a quick ratio of 11.28 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.15 billion, a PE ratio of -10.94 and a beta of 0.87. The company has a 50 day moving average of $28.55 and a 200-day moving average of $21.61. Viridian Therapeutics has a 1-year low of $9.90 and a 1-year high of $34.04.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.82) by $0.48. The business had revenue of $70.57 million during the quarter, compared to the consensus estimate of $16.21 million. Viridian Therapeutics had a negative net margin of 426.58% and a negative return on equity of 78.50%. Viridian Therapeutics’s quarterly revenue was up 81993.0% on a year-over-year basis. As a group, equities research analysts forecast that Viridian Therapeutics will post -4.03 earnings per share for the current fiscal year.

Insider Transactions at Viridian Therapeutics

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc purchased 454,545 shares of the company’s stock in a transaction dated Thursday, October 23rd. The stock was purchased at an average price of $22.00 per share, with a total value of $9,999,990.00. Following the completion of the purchase, the director owned 3,914,458 shares of the company’s stock, valued at approximately $86,118,076. The trade was a 13.14% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.58% of the company’s stock.

Institutional Trading of Viridian Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of VRDN. Corton Capital Inc. bought a new stake in Viridian Therapeutics during the second quarter valued at $248,000. Moody Aldrich Partners LLC increased its stake in shares of Viridian Therapeutics by 54.2% in the 2nd quarter. Moody Aldrich Partners LLC now owns 89,164 shares of the company’s stock valued at $1,247,000 after acquiring an additional 31,323 shares in the last quarter. Hsbc Holdings PLC acquired a new position in shares of Viridian Therapeutics during the 1st quarter valued at $526,000. Raymond James Financial Inc. boosted its stake in Viridian Therapeutics by 1.4% during the first quarter. Raymond James Financial Inc. now owns 318,240 shares of the company’s stock worth $4,290,000 after acquiring an additional 4,453 shares in the last quarter. Finally, J. Safra Sarasin Holding AG boosted its stake in Viridian Therapeutics by 135.5% during the second quarter. J. Safra Sarasin Holding AG now owns 171,119 shares of the company’s stock worth $2,392,000 after acquiring an additional 98,447 shares in the last quarter.

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.