Viridian Therapeutics (NASDAQ:VRDN) Price Target Lowered to $34.00 at Needham & Company LLC

Viridian Therapeutics (NASDAQ:VRDN) had its price target trimmed by Needham & Company LLC from $36.00 to $34.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

VRDN has been the topic of several other reports. Royal Bank Of Canada cut their price objective on shares of Viridian Therapeutics from $46.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. The Goldman Sachs Group cut their price objective on shares of Viridian Therapeutics from $31.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. JMP Securities cut their target price on shares of Viridian Therapeutics from $42.00 to $38.00 and set a “market outperform” rating on the stock in a report on Wednesday, May 7th. Finally, HC Wainwright reiterated a “buy” rating and issued a $34.00 target price on shares of Viridian Therapeutics in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Viridian Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $36.75.

Viridian Therapeutics Price Performance

Shares of VRDN stock opened at $17.20 on Wednesday. Viridian Therapeutics has a 1 year low of $9.90 and a 1 year high of $27.20. The firm’s 50 day moving average is $15.84 and its 200-day moving average is $15.24. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -4.47 and a beta of 0.42. The company has a current ratio of 19.49, a quick ratio of 19.49 and a debt-to-equity ratio of 0.05.

Viridian Therapeutics (NASDAQ:VRDN) last announced its earnings results on Wednesday, August 6th. The company reported ($1.00) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($1.00). Viridian Therapeutics had a negative net margin of 102,092.39% and a negative return on equity of 70.61%. The company had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.05 million. During the same period in the prior year, the business earned ($0.81) earnings per share. Viridian Therapeutics’s quarterly revenue was up 4.2% on a year-over-year basis. Sell-side analysts forecast that Viridian Therapeutics will post -4.03 EPS for the current fiscal year.

Institutional Trading of Viridian Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Amalgamated Bank boosted its holdings in shares of Viridian Therapeutics by 49.7% during the 1st quarter. Amalgamated Bank now owns 2,531 shares of the company’s stock worth $34,000 after buying an additional 840 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of Viridian Therapeutics by 198.2% during the 4th quarter. Nuveen Asset Management LLC now owns 681,012 shares of the company’s stock worth $13,055,000 after buying an additional 452,627 shares during the period. Principal Financial Group Inc. raised its stake in Viridian Therapeutics by 17.0% in the 1st quarter. Principal Financial Group Inc. now owns 208,836 shares of the company’s stock worth $2,815,000 after purchasing an additional 30,392 shares in the last quarter. Vanguard Group Inc. raised its stake in Viridian Therapeutics by 4.0% in the 4th 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 in the last quarter. Finally, Rhumbline Advisers raised its stake in Viridian Therapeutics by 4.6% in the 1st quarter. Rhumbline Advisers now owns 104,559 shares of the company’s stock worth $1,409,000 after purchasing an additional 4,621 shares in the last quarter.

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.