Viridian Therapeutics (NASDAQ:VRDN) Price Target Raised to $38.00

Viridian Therapeutics (NASDAQ:VRDN) had its price objective increased by Needham & Company LLC from $30.00 to $38.00 in a research report report published on Wednesday morning, MarketBeat reports. The brokerage currently has a buy rating on the stock.

A number of other analysts also recently commented on the stock. HC Wainwright restated a buy rating and set a $27.00 target price on shares of Viridian Therapeutics in a research report on Tuesday, September 10th. Wolfe Research assumed coverage on Viridian Therapeutics in a report on Tuesday, June 11th. They issued an outperform rating and a $29.00 price target on the stock. Wedbush reaffirmed an outperform rating and issued a $42.00 price objective on shares of Viridian Therapeutics in a research note on Monday, July 29th. BTIG Research boosted their target price on Viridian Therapeutics from $46.00 to $56.00 and gave the stock a buy rating in a research report on Tuesday, September 10th. Finally, The Goldman Sachs Group started coverage on Viridian Therapeutics in a report on Thursday, June 6th. They issued a buy rating and a $23.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Viridian Therapeutics presently has an average rating of Moderate Buy and a consensus price target of $35.30.

Viridian Therapeutics Stock Up 6.6 %

Viridian Therapeutics stock opened at $22.06 on Wednesday. The stock’s 50 day moving average price is $15.39 and its 200 day moving average price is $15.02. Viridian Therapeutics has a 1-year low of $10.93 and a 1-year high of $24.18. The company has a market cap of $1.41 billion, a PE ratio of -4.90 and a beta of 1.03. The company has a debt-to-equity ratio of 0.05, a current ratio of 15.82 and a quick ratio of 15.82.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.15). Viridian Therapeutics had a negative net margin of 79,185.77% and a negative return on equity of 83.18%. The business had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.09 million. On average, sell-side analysts predict that Viridian Therapeutics will post -3.97 EPS for the current fiscal year.

Institutional Trading of Viridian Therapeutics

A number of large investors have recently made changes to their positions in the stock. Novo Holdings A S lifted its holdings in Viridian Therapeutics by 81.8% in the 2nd quarter. Novo Holdings A S now owns 2,000,000 shares of the company’s stock valued at $26,020,000 after purchasing an additional 900,000 shares in the last quarter. Algert Global LLC raised its position in shares of Viridian Therapeutics by 46.7% in the second quarter. Algert Global LLC now owns 55,493 shares of the company’s stock valued at $722,000 after buying an additional 17,673 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Viridian Therapeutics by 30.7% during the second quarter. The Manufacturers Life Insurance Company now owns 31,687 shares of the company’s stock valued at $412,000 after buying an additional 7,450 shares during the period. Millennium Management LLC boosted its position in Viridian Therapeutics by 1,014.7% during the second quarter. Millennium Management LLC now owns 228,182 shares of the company’s stock worth $2,969,000 after acquiring an additional 207,711 shares during the last quarter. Finally, Maverick Capital Ltd. grew its stake in Viridian Therapeutics by 22.9% in the 2nd quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock worth $43,036,000 after acquiring an additional 615,531 shares during the period.

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.