Viridian Therapeutics’ (VRDN) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Viridian Therapeutics (NASDAQ:VRDN) in a research note published on Wednesday,Benzinga reports. They currently have a $42.00 price target on the stock.

Other equities research analysts have also recently issued research reports about the company. Truist Financial cut their price target on Viridian Therapeutics from $41.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Royal Bank Of Canada upped their price objective on shares of Viridian Therapeutics from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. UBS Group initiated coverage on shares of Viridian Therapeutics in a research note on Wednesday, January 7th. They issued a “buy” rating and a $50.00 target price for the company. William Blair started coverage on shares of Viridian Therapeutics in a report on Wednesday, December 3rd. They set an “outperform” rating for the company. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $40.00 price objective on shares of Viridian Therapeutics in a research report on Thursday, November 6th. Thirteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.64.

Viridian Therapeutics Price Performance

Shares of VRDN opened at $29.25 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 11.28 and a current ratio of 11.28. Viridian Therapeutics has a fifty-two week low of $9.90 and a fifty-two week high of $34.29. The firm has a 50-day simple moving average of $32.01 and a 200-day simple moving average of $25.20. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of -9.69 and a beta of 0.98.

Viridian Therapeutics (NASDAQ:VRDN) last issued 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 return on equity of 78.50% and a negative net margin of 426.58%.The firm had revenue of $70.57 million for the quarter, compared to analysts’ expectations of $16.21 million. The company’s revenue for the quarter was up 81993.0% compared to the same quarter last year. On average, equities research analysts anticipate that Viridian Therapeutics will post -4.03 earnings per share for the current year.

Insider Activity

In other news, insider Jennifer Tousignant sold 2,272 shares of Viridian Therapeutics stock in a transaction that occurred on Wednesday, December 31st. The shares were 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.58% of the company’s stock.

Hedge Funds Weigh In On Viridian Therapeutics

Hedge funds have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new stake in Viridian Therapeutics during the third quarter worth $35,000. ANTIPODES PARTNERS Ltd purchased a new position in shares of Viridian Therapeutics in the fourth quarter valued at $36,000. Farther Finance Advisors LLC raised its stake in shares of Viridian Therapeutics by 332.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,940 shares of the company’s stock worth $42,000 after buying an additional 1,491 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Viridian Therapeutics by 947.7% in the 3rd quarter. Bessemer Group Inc. now owns 2,085 shares of the company’s stock worth $45,000 after buying an additional 1,886 shares in the last quarter. Finally, Larson Financial Group LLC purchased a new stake in shares of Viridian Therapeutics in the 3rd quarter worth about $52,000.

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.