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

Wedbush restated their outperform rating on shares of Viridian Therapeutics (NASDAQ:VRDN) in a report published on Wednesday,Benzinga reports. Wedbush currently has a $44.00 target price on the stock.

Several other equities analysts have also recently weighed in on VRDN. Evercore reiterated an “outperform” rating and set a $44.00 price objective on shares of Viridian Therapeutics in a research report on Tuesday, January 20th. Wells Fargo & Company increased their target price on Viridian Therapeutics from $26.00 to $29.00 and gave the company an “equal weight” rating in a report on Tuesday, February 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $42.00 target price on shares of Viridian Therapeutics in a research report on Wednesday, February 4th. Truist Financial lowered their price target on Viridian Therapeutics from $41.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Finally, Royal Bank Of Canada dropped their price target on Viridian Therapeutics from $45.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.21.

Viridian Therapeutics Price Performance

VRDN stock opened at $28.62 on Wednesday. Viridian Therapeutics has a one year low of $9.90 and a one year high of $34.29. The firm has a 50-day moving average of $30.60 and a two-hundred day moving average of $27.07. The firm has a market capitalization of $2.93 billion, a PE ratio of -8.70 and a beta of 1.00. The company has a current ratio of 12.65, a quick ratio of 12.65 and a debt-to-equity ratio of 0.08.

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

Insiders Place Their Bets

In other Viridian Therapeutics news, insider Jennifer Tousignant sold 2,272 shares of the company’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 value of $70,795.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.58% of the company’s stock.

Hedge Funds Weigh In On Viridian Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Viridian Therapeutics by 29.6% in the fourth 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 last quarter. Commodore Capital LP boosted its position in Viridian Therapeutics by 35.4% during the second quarter. Commodore Capital LP now owns 4,875,000 shares of the company’s stock valued at $68,152,000 after purchasing an additional 1,275,000 shares during the last quarter. State Street Corp boosted its position in Viridian Therapeutics by 35.7% during the fourth quarter. State Street Corp now owns 3,466,560 shares of the company’s stock valued at $107,879,000 after purchasing an additional 912,394 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Viridian Therapeutics by 42.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,439,414 shares of the company’s stock valued at $107,036,000 after purchasing an additional 1,021,310 shares in the last quarter. Finally, Perceptive Advisors LLC increased its position 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 purchasing an additional 1,580,303 shares during the last quarter.

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.