Viridian Therapeutics (NASDAQ:VRDN) Price Target Lowered to $27.00 at HC Wainwright

Viridian Therapeutics (NASDAQ:VRDN) had its price objective reduced by equities researchers at HC Wainwright from $37.00 to $27.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 94.10% from the stock’s previous close.

A number of other equities research analysts have also commented on VRDN. Wedbush raised their price target on Viridian Therapeutics from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. Needham & Company LLC reissued a “buy” rating and issued a $30.00 price objective on shares of Viridian Therapeutics in a research report on Thursday. LADENBURG THALM/SH SH cut shares of Viridian Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday. Oppenheimer lowered their price objective on Viridian Therapeutics from $36.00 to $31.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, B. Riley cut Viridian Therapeutics from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $25.00 to $20.00 in a report on Thursday. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.60.

Viridian Therapeutics Stock Performance

NASDAQ VRDN traded down $0.99 during trading on Thursday, hitting $13.91. The company’s stock had a trading volume of 1,728,245 shares, compared to its average volume of 924,550. The company has a quick ratio of 18.26, a current ratio of 18.26 and a debt-to-equity ratio of 0.09. Viridian Therapeutics has a 52 week low of $10.93 and a 52 week high of $28.35. The firm has a 50 day moving average price of $16.46 and a 200 day moving average price of $17.64. The firm has a market cap of $887.74 million, a P/E ratio of -2.61 and a beta of 1.14.

Viridian Therapeutics (NASDAQ:VRDN) last issued its earnings results on Wednesday, May 8th. The company reported ($0.79) EPS for the quarter, beating the consensus estimate of ($1.07) by $0.28. Viridian Therapeutics had a negative net margin of 75,711.48% and a negative return on equity of 121.80%. The company had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.09 million. During the same quarter in the previous year, the company earned ($1.61) EPS. The firm’s revenue for the quarter was down 26.5% compared to the same quarter last year. Equities research analysts forecast that Viridian Therapeutics will post -4.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Viridian Therapeutics

Several hedge funds have recently bought and sold shares of VRDN. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Viridian Therapeutics by 122.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,369 shares of the company’s stock valued at $182,000 after buying an additional 4,610 shares during the period. Arizona State Retirement System bought a new position in shares of Viridian Therapeutics during the fourth quarter valued at $208,000. Principal Financial Group Inc. raised its holdings in Viridian Therapeutics by 9.7% in the first quarter. Principal Financial Group Inc. now owns 11,915 shares of the company’s stock worth $209,000 after buying an additional 1,058 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Viridian Therapeutics by 71.1% during the third quarter. Raymond James & Associates now owns 15,164 shares of the company’s stock valued at $233,000 after buying an additional 6,303 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new position in Viridian Therapeutics in the 3rd quarter valued at approximately $264,000.

Viridian Therapeutics Company Profile

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.