Needham & Company LLC Issues Positive Forecast for Viridian Therapeutics (NASDAQ:VRDN) Stock Price

Viridian Therapeutics (NASDAQ:VRDN) had its price objective increased by equities research analysts at Needham & Company LLC from $34.00 to $38.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC‘s target price would indicate a potential upside of 31.10% from the company’s previous close.

Several other research analysts also recently issued reports on the company. Weiss Ratings upgraded Viridian Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 14th. Royal Bank Of Canada increased their target price on Viridian Therapeutics from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Tuesday, September 22nd. Wall Street Zen downgraded Viridian Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Sunday, October 4th. Finally, Truist Financial boosted their price target on Viridian Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Ten analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $37.45.

Viridian Therapeutics Price Performance

Shares of NASDAQ:VRDN traded up $3.83 during midday trading on Wednesday, hitting $28.98. 8,901,876 shares of the stock were exchanged, compared to its average volume of 2,140,696. Viridian Therapeutics has a twelve month low of $13.18 and a twelve month high of $34.29. The company has a current ratio of 16.95, a quick ratio of 16.95 and a debt-to-equity ratio of 0.43. The company has a 50 day moving average price of $21.70 and a 200-day moving average price of $21.87. The stock has a market cap of $3.28 billion, a P/E ratio of -8.63 and a beta of 1.07.

Viridian Therapeutics (NASDAQ:VRDN) last posted its earnings results on Wednesday, November 4th. The company reported ($0.81) earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.72 million. On average, research analysts forecast that Viridian Therapeutics will post -4.07 earnings per share for the current year.

Insider Activity

In related news, insider Jennifer Tousignant sold 14,212 shares of the company’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 transaction of $348,194.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Viridian Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its stake in Viridian Therapeutics by 0.3% in the 1st quarter. Bank of New York Mellon Corp now owns 216,525 shares of the company’s stock worth $4,235,000 after buying an additional 659 shares during the last quarter. ProShare Advisors LLC grew its holdings in Viridian Therapeutics by 6.6% in the 3rd quarter. ProShare Advisors LLC now owns 12,609 shares of the company’s stock valued at $260,000 after buying an additional 784 shares during the period. Pictet Asset Management Holding SA increased its stake in shares of Viridian Therapeutics by 13.5% during the 3rd quarter. Pictet Asset Management Holding SA now owns 12,741 shares of the company’s stock valued at $262,000 after acquiring an additional 1,516 shares during the last quarter. KBC Group NV acquired a new position in shares of Viridian Therapeutics during the 1st quarter valued at about $34,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Viridian Therapeutics during the 2nd quarter valued at about $33,000.

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.