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

Needham & Company LLC restated their buy rating on shares of Viridian Therapeutics (NASDAQ:VRDN) in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a $36.00 price objective on the stock.

Other research analysts have also recently issued reports about the stock. The Goldman Sachs Group decreased their price objective on shares of Viridian Therapeutics from $31.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Royal Bank of Canada decreased their price objective on shares of Viridian Therapeutics from $46.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. HC Wainwright reissued a “buy” rating and set a $34.00 price objective on shares of Viridian Therapeutics in a report on Wednesday, April 23rd. Finally, JMP Securities decreased their price objective on shares of Viridian Therapeutics from $42.00 to $38.00 and set a “market outperform” rating for the company in a report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.70.

Viridian Therapeutics Stock Up 7.8%

Shares of Viridian Therapeutics stock opened at $13.82 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 18.55 and a current ratio of 18.55. The stock has a market capitalization of $1.13 billion, a PE ratio of -3.21 and a beta of 0.57. Viridian Therapeutics has a 52-week low of $9.90 and a 52-week high of $27.20. The company has a 50-day simple moving average of $13.29 and a two-hundred day simple moving average of $17.01.

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

Institutional Trading of Viridian Therapeutics

Large investors have recently added to or reduced their stakes in the business. Barclays PLC grew its position in Viridian Therapeutics by 113.1% during the third quarter. Barclays PLC now owns 125,397 shares of the company’s stock valued at $2,851,000 after buying an additional 66,550 shares during the period. SG Americas Securities LLC boosted its position in shares of Viridian Therapeutics by 89.1% in 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. Moody Aldrich Partners LLC bought a new position in shares of Viridian Therapeutics in the fourth quarter worth approximately $1,125,000. Vanguard Group Inc. boosted its position in shares of Viridian Therapeutics by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 4,595,049 shares of the company’s stock worth $88,087,000 after purchasing an additional 174,952 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Viridian Therapeutics by 3.3% in the fourth quarter. Principal Financial Group Inc. now owns 178,444 shares of the company’s stock worth $3,421,000 after purchasing an additional 5,634 shares during the period.

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.