Needham & Company LLC Reiterates “Buy” Rating for Viridian Therapeutics (NASDAQ:VRDN)

Viridian Therapeutics (NASDAQ:VRDN)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $36.00 target price on the stock. Needham & Company LLC’s price objective indicates a potential upside of 163.54% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. The Goldman Sachs Group decreased their target price on shares of Viridian Therapeutics from $31.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Royal Bank of Canada cut their price objective on Viridian Therapeutics from $46.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. JMP Securities lowered their target price on shares of Viridian Therapeutics from $42.00 to $38.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 7th. Finally, HC Wainwright reissued a “buy” rating and issued a $34.00 price target on shares of Viridian Therapeutics in a research note on Wednesday, April 23rd. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.70.

Viridian Therapeutics Trading Down 1.2%

Shares of VRDN opened at $13.66 on Tuesday. Viridian Therapeutics has a 52-week low of $9.90 and a 52-week high of $27.20. The stock has a market cap of $1.11 billion, a PE ratio of -3.17 and a beta of 0.57. The firm’s fifty day moving average is $13.25 and its two-hundred day moving average is $16.99. The company has a quick ratio of 18.55, a current ratio of 18.55 and a debt-to-equity ratio of 0.04.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.87) EPS for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.08. The company had revenue of $0.07 million during the quarter, compared to the consensus estimate of $0.16 million. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. The company’s revenue was up .0% on a year-over-year basis. Research analysts forecast that Viridian Therapeutics will post -4.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Viridian Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Loomis Sayles & Co. L P acquired a new stake in shares of Viridian Therapeutics in the 4th quarter valued at about $26,845,000. Price T Rowe Associates Inc. MD increased its stake in Viridian Therapeutics by 2,847.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,326,811 shares of the company’s stock valued at $25,436,000 after purchasing an additional 1,281,799 shares during the period. Deep Track Capital LP raised its holdings in shares of Viridian Therapeutics by 20.6% in the fourth quarter. Deep Track Capital LP now owns 4,522,741 shares of the company’s stock valued at $86,701,000 after buying an additional 771,796 shares during the last quarter. FMR LLC grew its holdings in shares of Viridian Therapeutics by 6.2% during the fourth quarter. FMR LLC now owns 11,881,912 shares of the company’s stock worth $227,776,000 after buying an additional 698,434 shares during the last quarter. Finally, Parkman Healthcare Partners LLC raised its stake in Viridian Therapeutics by 155.9% during the 4th quarter. Parkman Healthcare Partners LLC now owns 1,087,634 shares of the company’s stock valued at $20,850,000 after acquiring an additional 662,634 shares during the last quarter.

Viridian Therapeutics Company Profile

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.