HC Wainwright Reiterates Buy Rating for Viridian Therapeutics (NASDAQ:VRDN)

Viridian Therapeutics (NASDAQ:VRDN)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $34.00 target price on the stock. HC Wainwright’s target price indicates a potential upside of 150.74% from the stock’s previous close.

Separately, Needham & Company LLC restated a “buy” rating and set a $38.00 target price on shares of Viridian Therapeutics in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.70.

Viridian Therapeutics Stock Performance

VRDN stock opened at $13.56 on Wednesday. The company has a 50 day moving average price of $14.28 and a 200 day moving average price of $18.34. Viridian Therapeutics has a fifty-two week low of $9.90 and a fifty-two week high of $27.20. The company has a debt-to-equity ratio of 0.04, a current ratio of 18.55 and a quick ratio of 18.55. The stock has a market capitalization of $1.10 billion, a PE ratio of -3.15 and a beta of 0.81.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results on Thursday, February 27th. The company reported ($0.81) EPS for the quarter, beating the consensus estimate of ($1.05) by $0.24. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. The company had revenue of $0.07 million during the quarter, compared to analysts’ expectations of $0.05 million. Analysts forecast that Viridian Therapeutics will post -4.03 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of VRDN. SG Americas Securities LLC boosted its position in shares of Viridian Therapeutics by 2.9% during the first quarter. SG Americas Securities LLC now owns 31,972 shares of the company’s stock worth $431,000 after purchasing an additional 887 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Viridian Therapeutics by 4.6% in the first quarter. Rhumbline Advisers now owns 104,559 shares of the company’s stock worth $1,409,000 after acquiring an additional 4,621 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Viridian Therapeutics by 3,892.9% during the first quarter. GAMMA Investing LLC now owns 8,425 shares of the company’s stock worth $114,000 after purchasing an additional 8,214 shares during the period. California State Teachers Retirement System lifted its holdings in shares of Viridian Therapeutics by 18.0% during the 4th quarter. California State Teachers Retirement System now owns 54,710 shares of the company’s stock valued at $1,049,000 after purchasing an additional 8,344 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Viridian Therapeutics by 29.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 115,782 shares of the company’s stock valued at $2,220,000 after purchasing an additional 26,286 shares during the period.

About Viridian Therapeutics

Viridian Therapeutics, Inc, a biotechnology company, discover and develops treatments for serious and rare diseases. The company's product pipeline includes VRDN-001, a monoclonal antibody targeting insulin-like growth factor-1 receptor that is in Phase 3 clinical trial for the treatment of thyroid eye disease (TED); and VRDN-003, a next generation IGF-1R humanized monoclonal antibodies targeting IGF-1R and incorporating half-life extension technology for the treatment of TED.