Viridian Therapeutics (NASDAQ:VRDN) Price Target Cut to $36.00 by Analysts at Needham & Company LLC

Viridian Therapeutics (NASDAQ:VRDN) had its price target decreased by investment analysts at Needham & Company LLC from $38.00 to $36.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target suggests a potential upside of 181.69% from the stock’s previous close.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $34.00 price objective on shares of Viridian Therapeutics in a research report on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $35.18.

Viridian Therapeutics Stock Performance

Shares of VRDN stock opened at $12.78 on Wednesday. Viridian Therapeutics has a 52 week low of $9.90 and a 52 week high of $27.20. The firm has a 50 day moving average of $13.76 and a two-hundred day moving average of $17.61. The company has a quick ratio of 18.55, a current ratio of 18.55 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $1.04 billion, a PE ratio of -2.97 and a beta of 0.57.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.87) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.08. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. The company had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.16 million. The company’s quarterly revenue was up .0% compared to the same quarter last year. On average, research analysts predict that Viridian Therapeutics will post -4.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Viridian Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in VRDN. Barclays PLC grew its holdings in shares of Viridian Therapeutics by 113.1% during the third quarter. Barclays PLC now owns 125,397 shares of the company’s stock worth $2,851,000 after buying an additional 66,550 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Viridian Therapeutics by 218.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 400,351 shares of the company’s stock worth $9,108,000 after acquiring an additional 274,641 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Viridian Therapeutics by 6.8% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 210,899 shares of the company’s stock valued at $4,043,000 after purchasing an additional 13,498 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Viridian Therapeutics by 89.1% during the fourth quarter. SG Americas Securities LLC now owns 31,085 shares of the company’s stock worth $596,000 after purchasing an additional 14,644 shares during the period. Finally, Moody Aldrich Partners LLC purchased a new position in Viridian Therapeutics in the 4th quarter valued at $1,125,000.

About Viridian Therapeutics

Viridian Therapeutics, Inc, a biotechnology company, discover and develops treatments for serious and rare diseases. The company's product pipeline includes VRDN-001, a monoclonal antibody targeting insulin-like growth factor-1 receptor that is in Phase 3 clinical trial for the treatment of thyroid eye disease (TED); and VRDN-003, a next generation IGF-1R humanized monoclonal antibodies targeting IGF-1R and incorporating half-life extension technology for the treatment of TED.