Wells Fargo & Company Forecasts Strong Price Appreciation for Viridian Therapeutics (NASDAQ:VRDN) Stock

Viridian Therapeutics (NASDAQ:VRDN) had its price objective upped by analysts at Wells Fargo & Company from $26.00 to $29.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential downside of 4.51% from the company’s current price.

Several other equities analysts have also weighed in on VRDN. BTIG Research restated a “buy” rating and set a $61.00 price target on shares of Viridian Therapeutics in a research report on Tuesday, November 4th. Truist Financial reduced their target price on shares of Viridian Therapeutics from $41.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. UBS Group started coverage on shares of Viridian Therapeutics in a research note on Wednesday, January 7th. They set a “buy” rating and a $50.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viridian Therapeutics in a research note on Wednesday, January 21st. Finally, Needham & Company LLC increased their price objective on Viridian Therapeutics from $34.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, December 23rd. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.64.

Viridian Therapeutics Stock Performance

VRDN stock opened at $30.37 on Tuesday. The company has a quick ratio of 11.28, a current ratio of 11.28 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.90 billion, a PE ratio of -10.06 and a beta of 0.98. The business has a 50 day moving average of $32.12 and a 200-day moving average of $25.08. Viridian Therapeutics has a 12-month low of $9.90 and a 12-month high of $34.29.

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

Insider Transactions at Viridian Therapeutics

In other Viridian Therapeutics news, insider Jennifer Tousignant sold 2,272 shares of the stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $31.16, for a total transaction of $70,795.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.58% of the stock is owned by insiders.

Institutional Trading of Viridian Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Viridian Therapeutics by 1.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company’s stock worth $669,000 after purchasing an additional 876 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Viridian Therapeutics by 33.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,231,092 shares of the company’s stock valued at $16,595,000 after acquiring an additional 310,998 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Viridian Therapeutics by 12.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 130,570 shares of the company’s stock valued at $1,760,000 after acquiring an additional 14,788 shares during the period. TD Asset Management Inc grew its stake in Viridian Therapeutics by 174.8% during the second quarter. TD Asset Management Inc now owns 89,600 shares of the company’s stock valued at $1,253,000 after acquiring an additional 57,000 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Viridian Therapeutics during the 2nd quarter worth approximately $180,000.

About Viridian Therapeutics

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.