Viridian Therapeutics (NASDAQ:VRDN) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Viridian Therapeutics (NASDAQ:VRDN) had its price objective upped by equities researchers at Wells Fargo & Company from $31.00 to $34.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 19.34% from the company’s previous close.

VRDN has been the topic of a number of other research reports. Wedbush lifted their price target on shares of Viridian Therapeutics from $41.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday. Royal Bank Of Canada increased their price objective on Viridian Therapeutics from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Tuesday, September 22nd. Truist Financial raised their target price on Viridian Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Needham & Company LLC boosted their target price on Viridian Therapeutics from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Weiss Ratings raised Viridian Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 14th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Viridian Therapeutics Stock Performance

NASDAQ VRDN traded down $0.06 during trading hours on Thursday, reaching $28.49. 4,487,163 shares of the company were exchanged, compared to its average volume of 2,101,929. The stock has a market capitalization of $3.23 billion, a P/E ratio of -7.42 and a beta of 1.07. The company has a quick ratio of 16.95, a current ratio of 16.95 and a debt-to-equity ratio of 0.43. Viridian Therapeutics has a 1 year low of $13.18 and a 1 year high of $34.29. The business’s 50 day simple moving average is $21.97 and its 200-day simple moving average is $21.81.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results on Wednesday, November 4th. The company reported ($0.81) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.21. Viridian Therapeutics had a negative net margin of 505.86% and a negative return on equity of 72.97%. The firm had revenue of $25.75 million for the quarter, compared to analysts’ expectations of $4.72 million. On average, equities research analysts expect that Viridian Therapeutics will post -3.94 earnings per share for the current year.

Insider Activity at Viridian Therapeutics

In related news, insider Jennifer Tousignant sold 14,212 shares of the firm’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 can be accessed through the SEC website. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of VRDN. Integrated Wealth Concepts LLC bought a new stake in Viridian Therapeutics during the 2nd quarter valued at $33,000. KBC Group NV purchased a new stake in shares of Viridian Therapeutics during the first quarter worth $34,000. State of Wyoming purchased a new position in shares of Viridian Therapeutics in the second quarter valued at $43,000. Fulcrum Asset Management LLP purchased a new position in shares of Viridian Therapeutics in the third quarter valued at $97,000. Finally, Man Group plc bought a new stake in shares of Viridian Therapeutics during the 2nd quarter valued at $197,000.

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

Viridian Therapeutics Company Profile

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.