Viridian Therapeutics (NASDAQ:VRDN) Stock Rating Upgraded by Wall Street Zen

Viridian Therapeutics (NASDAQ:VRDN) was upgraded by equities research analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other equities research analysts have also recently commented on VRDN. Royal Bank Of Canada increased their price target on Viridian Therapeutics from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Tuesday, September 22nd. Wedbush boosted their price target on Viridian Therapeutics from $32.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 30th. Truist Financial upped their price objective on shares of Viridian Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a report on Friday, August 7th. Wells Fargo & Company raised shares of Viridian Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $20.00 to $31.00 in a research report on Monday, June 29th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $39.00 target price on shares of Viridian Therapeutics in a research note on Tuesday, June 30th. Twelve analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Viridian Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.69.

Viridian Therapeutics Price Performance

NASDAQ VRDN opened at $20.47 on Friday. The firm’s fifty day simple moving average is $21.95 and its two-hundred day simple moving average is $19.74. The firm has a market capitalization of $2.32 billion, a P/E ratio of -6.07 and a beta of 0.97. The company has a current ratio of 16.95, a quick ratio of 16.95 and a debt-to-equity ratio of 0.43. Viridian Therapeutics has a 12-month low of $13.18 and a 12-month high of $34.29.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($1.03) by ($0.02). The business had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.06 million. Viridian Therapeutics had a negative net margin of 505.86% and a negative return on equity of 72.97%. Analysts forecast that Viridian Therapeutics will post -4.07 EPS for the current fiscal year.

Insider Transactions at Viridian Therapeutics

In other Viridian Therapeutics news, insider Jennifer Tousignant sold 14,212 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was 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 link. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of Viridian Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in VRDN. Wellington Management Group LLP lifted its position in shares of Viridian Therapeutics by 1.6% during the 2nd quarter. Wellington Management Group LLP now owns 3,128,362 shares of the company’s stock valued at $57,468,000 after buying an additional 49,808 shares in the last quarter. Perceptive Advisors LLC increased its holdings in Viridian Therapeutics by 108.1% in the 4th quarter. Perceptive Advisors LLC now owns 3,042,703 shares of the company’s stock worth $94,689,000 after acquiring an additional 1,580,303 shares in the last quarter. Baker BROS. Advisors LP increased its holdings in Viridian Therapeutics by 13.0% in the 4th quarter. Baker BROS. Advisors LP now owns 1,971,678 shares of the company’s stock worth $61,359,000 after acquiring an additional 227,272 shares in the last quarter. Avoro Capital Advisors LLC acquired a new position in Viridian Therapeutics during the fourth quarter worth $46,680,000. Finally, Parkman Healthcare Partners LLC purchased a new position in Viridian Therapeutics during the second quarter valued at $25,306,000.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious diseases involving the immune system. The company’s primary focus is thyroid eye disease (TED), an autoimmune disorder that can cause inflammation, pain, swelling and vision-related complications.

Viridian’s lead programs target the insulin-like growth factor 1 receptor (IGF-1R), a pathway associated with TED. Its pipeline has included investigational therapies such as veligrotug (VRDN-001), an intravenous antibody designed to block IGF-1R, and subcutaneous formulations intended to provide more convenient administration.