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

Viridian Therapeutics (NASDAQ:VRDN)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a report issued on Wednesday,Benzinga reports. They presently have a $42.00 target price on the stock. Needham & Company LLC’s target price would suggest a potential upside of 43.98% from the stock’s previous close.

A number of other equities analysts have also weighed in on VRDN. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viridian Therapeutics in a research report on Wednesday, January 21st. BTIG Research restated a “buy” rating and set a $61.00 price objective on shares of Viridian Therapeutics in a report on Tuesday, November 4th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Viridian Therapeutics in a research note on Thursday, November 6th. Wells Fargo & Company lifted their price objective on shares of Viridian Therapeutics from $26.00 to $29.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, Wedbush upped their target price on shares of Viridian Therapeutics from $42.00 to $47.00 and gave the stock an “outperform” rating in a report on Wednesday, December 10th. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $42.64.

Viridian Therapeutics Price Performance

Shares of NASDAQ VRDN opened at $29.17 on Wednesday. The firm has a market capitalization of $2.78 billion, a P/E ratio of -9.66 and a beta of 0.98. The firm’s 50-day moving average price is $32.06 and its 200-day moving average price is $25.11. The company has a current ratio of 11.28, a quick ratio of 11.28 and a debt-to-equity ratio of 0.07. Viridian Therapeutics has a 1-year low of $9.90 and a 1-year high of $34.29.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.48. Viridian Therapeutics had a negative return on equity of 78.50% and a negative net margin of 426.58%.The business had revenue of $70.57 million for the quarter, compared to the consensus estimate of $16.21 million. Viridian Therapeutics’s revenue for the quarter was up 81993.0% on a year-over-year basis. Equities research analysts anticipate that Viridian Therapeutics will post -4.03 earnings per share for the current fiscal year.

Insider Activity at Viridian Therapeutics

In other news, insider Jennifer Tousignant sold 2,272 shares of the stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $31.16, for a total value of $70,795.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.58% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Viridian Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in VRDN. Aster Capital Management DIFC Ltd purchased a new position in shares of Viridian Therapeutics in the 3rd quarter worth approximately $35,000. ANTIPODES PARTNERS Ltd bought a new stake in Viridian Therapeutics during the fourth quarter worth $36,000. Farther Finance Advisors LLC boosted its position in Viridian Therapeutics by 332.1% in the third quarter. Farther Finance Advisors LLC now owns 1,940 shares of the company’s stock worth $42,000 after purchasing an additional 1,491 shares during the last quarter. Bessemer Group Inc. grew its stake in Viridian Therapeutics by 947.7% in the 3rd quarter. Bessemer Group Inc. now owns 2,085 shares of the company’s stock valued at $45,000 after purchasing an additional 1,886 shares during the period. Finally, Larson Financial Group LLC purchased a new stake in shares of Viridian Therapeutics during the 3rd quarter valued at $52,000.

Viridian Therapeutics Company Profile

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.