Viridian Therapeutics (NASDAQ:VRDN) Raised to Hold at Wall Street Zen

Viridian Therapeutics (NASDAQ:VRDN) was upgraded by analysts at Wall Street Zen from a “strong sell” rating to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

VRDN has been the subject of several other reports. Truist Financial boosted their price target on Viridian Therapeutics from $39.00 to $42.00 and gave the company a “buy” rating in a report on Thursday. HC Wainwright increased their price target on Viridian Therapeutics from $22.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday. Wedbush raised their price objective on Viridian Therapeutics from $41.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday. Leerink Partners lifted their price objective on Viridian Therapeutics from $50.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Wells Fargo & Company upped their target price on Viridian Therapeutics from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $41.00.

Viridian Therapeutics Price Performance

Viridian Therapeutics stock opened at $28.49 on Friday. Viridian Therapeutics has a 12-month low of $13.18 and a 12-month high of $34.29. The stock has a market capitalization of $3.24 billion, a P/E ratio of -7.42 and a beta of 1.07. The firm’s 50-day moving average is $21.97 and its two-hundred day moving average is $21.81. The company has a debt-to-equity ratio of 0.50, a current ratio of 14.46 and a quick ratio of 14.46.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings results on Wednesday, November 4th. The company reported ($0.81) EPS for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.21. The business had revenue of $25.75 million during the quarter, compared to the consensus estimate of $4.72 million. Viridian Therapeutics had a negative net margin of 1,620.79% and a negative return on equity of 79.67%. Equities analysts predict that Viridian Therapeutics will post -3.64 earnings per share for the current year.

Insider Activity

In related news, insider Jennifer Tousignant sold 14,212 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $24.50, for a total value of $348,194.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Viridian Therapeutics

Large investors have recently bought and sold shares of the stock. KBC Group NV acquired a new position in Viridian Therapeutics in the first quarter valued at $34,000. Integrated Wealth Concepts LLC purchased a new stake in Viridian Therapeutics during the second quarter valued at about $33,000. State of Wyoming purchased a new stake in Viridian Therapeutics during the second quarter valued at about $43,000. Fulcrum Asset Management LLP purchased a new stake in Viridian Therapeutics during the third quarter valued at about $97,000. Finally, AlphaCentric Advisors LLC acquired a new stake in Viridian Therapeutics during the third quarter worth about $216,000.

More Viridian Therapeutics News

Here are the key news stories impacting Viridian Therapeutics this week:

• Positive Sentiment: Viridian reported a third-quarter loss of $0.81 per share, narrower than analysts’ roughly $1.02-per-share estimate. The earnings beat, alongside optimism around the Lumvoa launch, has supported investor interest. Viridian Therapeutics Stock Rises 5% Despite Wider Q3 Loss
• Positive Sentiment: Analysts raised targets and maintained bullish ratings. Recent increases include Leerink Partners to $54, RBC to $41, Truist to $42, Wells Fargo to $34, Wedbush to $42 and HC Wainwright to $40. Zacks also noted a positive trend in earnings estimate revisions, though price targets are not guarantees. Zacks analyst outlook
• Neutral Sentiment: The company will present Phase 1 results for VRDN-008 and outline plans for its FcRn portfolio on November 9. The data and development plans could provide meaningful signals about the pipeline, but the outcome is not yet known. VRDN-008 conference call announcement

About Viridian Therapeutics

Viridian Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious autoimmune diseases. The company’s lead research area is thyroid eye disease (TED), a debilitating condition that can cause eye inflammation, swelling, pain and vision-related complications.

Viridian’s pipeline is centered on antibodies designed to inhibit the insulin-like growth factor-1 receptor (IGF-1R), a target associated with TED. Its investigational therapies include veligrotug (VRDN-001), an intravenous treatment candidate, and VRDN-003, a subcutaneous formulation being developed to provide a more convenient administration option.