Viridian Therapeutics (NASDAQ:VRDN) Price Target Raised to $42.00 at Needham & Company LLC

Viridian Therapeutics (NASDAQ:VRDN) had its price objective raised by investment analysts at Needham & Company LLC from $34.00 to $42.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 29.35% from the stock’s previous close.

VRDN has been the topic of a number of other reports. The Goldman Sachs Group restated a “buy” rating and issued a $40.00 target price on shares of Viridian Therapeutics in a report on Thursday, November 6th. Jefferies Financial Group assumed coverage on Viridian Therapeutics in a research note on Monday, August 25th. They set a “buy” rating and a $44.00 price objective on the stock. William Blair began coverage on Viridian Therapeutics in a research note on Wednesday, December 3rd. They issued an “outperform” rating for the company. Royal Bank Of Canada boosted their target price on Viridian Therapeutics from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viridian Therapeutics in a research note on Wednesday, October 8th. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $41.75.

Viridian Therapeutics Stock Performance

NASDAQ:VRDN opened at $32.47 on Tuesday. The company has a market cap of $3.10 billion, a price-to-earnings ratio of -10.75 and a beta of 0.86. Viridian Therapeutics has a 1 year low of $9.90 and a 1 year high of $34.04. The stock’s 50 day simple moving average is $28.11 and its two-hundred day simple moving average is $21.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 11.28 and a quick ratio of 11.28.

Viridian Therapeutics (NASDAQ:VRDN) last posted its earnings results on Wednesday, November 5th. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.48. The firm had revenue of $70.57 million during the quarter, compared to analyst estimates of $16.21 million. Viridian Therapeutics had a negative net margin of 426.58% and a negative return on equity of 78.50%. The firm’s revenue for the quarter was up 81993.0% on a year-over-year basis. As a group, equities analysts anticipate that Viridian Therapeutics will post -4.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Fairmount Funds Management Llc bought 454,545 shares of the stock in a transaction dated Thursday, October 23rd. The stock was purchased at an average cost of $22.00 per share, with a total value of $9,999,990.00. Following the completion of the purchase, the director owned 3,914,458 shares of the company’s stock, valued at $86,118,076. This trade represents a 13.14% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.65% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Viridian Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Invesco Ltd. increased its position in shares of Viridian Therapeutics by 44.3% during the first quarter. Invesco Ltd. now owns 47,771 shares of the company’s stock worth $644,000 after acquiring an additional 14,672 shares during the period. Nuveen LLC purchased a new position in Viridian Therapeutics during the 1st quarter worth $3,352,000. American Century Companies Inc. increased its holdings in Viridian Therapeutics by 8.2% during the 1st quarter. American Century Companies Inc. now owns 122,892 shares of the company’s stock worth $1,657,000 after purchasing an additional 9,330 shares during the period. Raymond James Financial Inc. raised its position in Viridian Therapeutics by 1.4% during the 1st quarter. Raymond James Financial Inc. now owns 318,240 shares of the company’s stock valued at $4,290,000 after purchasing an additional 4,453 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Viridian Therapeutics by 1.2% in the 1st quarter. Northern Trust Corp now owns 702,517 shares of the company’s stock worth $9,470,000 after buying an additional 8,375 shares during the period.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc (NASDAQ: VRDN) is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted antibody therapeutics for patients suffering from rare and serious diseases. The company’s lead program, VRDN-001, is a fully human monoclonal antibody that antagonizes the insulin-like growth factor-1 receptor (IGF-1R), with an initial focus on thyroid eye disease (TED). By selectively inhibiting IGF-1R signaling, VRDN-001 aims to reduce inflammation and tissue remodeling associated with TED and related disorders.

In addition to VRDN-001, Viridian is advancing a second antibody program, VRDN-002, which targets complement-mediated pathways implicated in autoimmune and inflammatory diseases.