Viridian Therapeutics (NASDAQ:VRDN) Price Target Raised to $42.00

Viridian Therapeutics (NASDAQ:VRDN) had its target price raised by Needham & Company LLC from $34.00 to $42.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Truist Financial set a $41.00 price objective on shares of Viridian Therapeutics in a research report on Monday, November 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viridian Therapeutics in a report on Wednesday, October 8th. Wedbush boosted their price objective on Viridian Therapeutics from $42.00 to $47.00 and gave the company an “outperform” rating in a research note on Wednesday, December 10th. Oppenheimer raised their target price on Viridian Therapeutics from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Finally, Royal Bank Of Canada lifted their target price on Viridian Therapeutics from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Viridian Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $41.75.

Viridian Therapeutics Price Performance

Shares of VRDN opened at $33.05 on Tuesday. The business has a 50-day moving average of $28.75 and a 200-day moving average of $21.69. The company has a debt-to-equity ratio of 0.07, a current ratio of 11.28 and a quick ratio of 11.28. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of -10.94 and a beta of 0.87. Viridian Therapeutics has a 1 year low of $9.90 and a 1 year high of $34.04.

Viridian Therapeutics (NASDAQ:VRDN) last released 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. Viridian Therapeutics had a negative net margin of 426.58% and a negative return on equity of 78.50%. The business had revenue of $70.57 million during the quarter, compared to the consensus estimate of $16.21 million. The business’s quarterly revenue was up 81993.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Viridian Therapeutics will post -4.03 earnings per share for the current year.

Insider Buying and Selling at Viridian Therapeutics

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc purchased 454,545 shares of the company’s stock in a transaction that occurred on Thursday, October 23rd. The shares were acquired at an average price of $22.00 per share, with a total value of $9,999,990.00. Following the transaction, the director owned 3,914,458 shares in the company, valued at $86,118,076. The trade was a 13.14% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.58% of the stock is owned by corporate insiders.

Institutional Trading of Viridian Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Hudson Bay Capital Management LP lifted its holdings in shares of Viridian Therapeutics by 46.6% in the third quarter. Hudson Bay Capital Management LP now owns 175,251 shares of the company’s stock valued at $3,782,000 after purchasing an additional 55,689 shares in the last quarter. Millennium Management LLC raised its position in Viridian Therapeutics by 129.3% in the 3rd quarter. Millennium Management LLC now owns 136,280 shares of the company’s stock valued at $2,941,000 after buying an additional 76,844 shares during the last quarter. Larson Financial Group LLC bought a new position in Viridian Therapeutics during the 3rd quarter valued at $52,000. Bank of America Corp DE boosted its holdings in Viridian Therapeutics by 6.5% during the 3rd quarter. Bank of America Corp DE now owns 245,759 shares of the company’s stock worth $5,303,000 after acquiring an additional 14,915 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Viridian Therapeutics by 314.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,122,532 shares of the company’s stock worth $24,224,000 after acquiring an additional 851,989 shares in the last quarter.

About Viridian Therapeutics

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.