Viridian Therapeutics (NASDAQ:VRDN) Receives Outperform Rating from Wedbush

Viridian Therapeutics (NASDAQ:VRDN)‘s stock had its “outperform” rating reiterated by investment analysts at Wedbush in a report issued on Wednesday,Benzinga reports. They currently have a $44.00 price objective on the stock. Wedbush’s target price indicates a potential upside of 50.74% from the stock’s current price.

A number of other equities analysts also recently issued reports on VRDN. Truist Financial cut their price objective on shares of Viridian Therapeutics from $41.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Needham & Company LLC reissued a “buy” rating and set a $42.00 price target on shares of Viridian Therapeutics in a research report on Wednesday, February 4th. Evercore restated an “outperform” rating and set a $44.00 price target on shares of Viridian Therapeutics in a report on Tuesday, January 20th. UBS Group started coverage on shares of Viridian Therapeutics in a research report on Wednesday, January 7th. They issued a “buy” rating and a $50.00 price objective for the company. Finally, Wall Street Zen lowered shares of Viridian Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Viridian Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $42.21.

Viridian Therapeutics Stock Performance

Shares of Viridian Therapeutics stock opened at $29.19 on Wednesday. Viridian Therapeutics has a 52 week low of $9.90 and a 52 week high of $34.29. The company has a quick ratio of 12.65, a current ratio of 12.65 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average price of $30.65 and a 200-day moving average price of $27.06. The company has a market cap of $2.98 billion, a PE ratio of -8.87 and a beta of 1.00.

Viridian Therapeutics (NASDAQ:VRDN) last announced its earnings results on Thursday, February 26th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.90) by ($0.18). Viridian Therapeutics had a negative net margin of 483.57% and a negative return on equity of 83.25%. The company had revenue of $0.13 million for the quarter, compared to analysts’ expectations of $15.75 million. Equities analysts anticipate that Viridian Therapeutics will post -4.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Viridian Therapeutics

In other news, insider Jennifer Tousignant sold 2,272 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $31.16, for a total transaction of $70,795.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.65% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Viridian Therapeutics

Several institutional investors have recently bought and sold shares of VRDN. Perceptive Advisors LLC increased its position in Viridian Therapeutics by 108.1% in the fourth quarter. Perceptive Advisors LLC now owns 3,042,703 shares of the company’s stock worth $94,689,000 after buying an additional 1,580,303 shares during the last quarter. Morgan Stanley lifted its position in shares of Viridian Therapeutics by 805.6% during the 4th quarter. Morgan Stanley now owns 1,738,225 shares of the company’s stock valued at $54,094,000 after buying an additional 1,546,284 shares during the last quarter. Avoro Capital Advisors LLC bought a new position in shares of Viridian Therapeutics during the 4th quarter worth $46,680,000. Vanguard Group Inc. grew its stake in shares of Viridian Therapeutics by 29.6% during the 4th quarter. Vanguard Group Inc. now owns 5,612,144 shares of the company’s stock worth $174,650,000 after acquiring an additional 1,280,161 shares during the period. Finally, Commodore Capital LP increased its holdings in Viridian Therapeutics by 35.4% in the 2nd quarter. Commodore Capital LP now owns 4,875,000 shares of the company’s stock worth $68,152,000 after acquiring an additional 1,275,000 shares during 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.