Viridian Therapeutics (NASDAQ:VRDN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Viridian Therapeutics (NASDAQ:VRDN) from a strong sell rating to a sell rating in a research report released on Saturday,Wall Street Zen reports.

Several other analysts have also commented on VRDN. Weiss Ratings raised Viridian Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, September 14th. Needham & Company LLC reissued a “buy” rating and issued a $32.00 target price on shares of Viridian Therapeutics in a report on Monday, June 29th. Royal Bank Of Canada raised their target price on Viridian Therapeutics from $36.00 to $38.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 22nd. Wells Fargo & Company upgraded Viridian Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $20.00 to $31.00 in a research note on Monday, June 29th. Finally, Truist Financial upped their price target on shares of Viridian Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.69.

Viridian Therapeutics Trading Up 0.5%

NASDAQ:VRDN opened at $20.57 on Friday. The company has a current ratio of 16.95, a quick ratio of 16.95 and a debt-to-equity ratio of 0.43. Viridian Therapeutics has a 12 month low of $13.18 and a 12 month high of $34.29. The company has a market cap of $2.33 billion, a PE ratio of -6.10 and a beta of 0.97. The company has a 50 day simple moving average of $21.99 and a two-hundred day simple moving average of $19.68.

Viridian Therapeutics (NASDAQ:VRDN) last announced its earnings results on Thursday, August 6th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.02). The company had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.06 million. Viridian Therapeutics had a negative net margin of 505.86% and a negative return on equity of 72.97%. Research analysts forecast that Viridian Therapeutics will post -4.07 earnings per share for the current year.

Insider Activity

In other news, insider Jennifer Tousignant sold 14,212 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $24.50, for a total transaction of $348,194.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Viridian Therapeutics

A number of institutional investors have recently bought and sold shares of VRDN. Wellington Management Group LLP increased its position in Viridian Therapeutics by 1.6% in the second quarter. Wellington Management Group LLP now owns 3,128,362 shares of the company’s stock worth $57,468,000 after buying an additional 49,808 shares in the last quarter. Perceptive Advisors LLC lifted its position in shares of Viridian Therapeutics by 108.1% during the 4th quarter. Perceptive Advisors LLC now owns 3,042,703 shares of the company’s stock valued at $94,689,000 after buying an additional 1,580,303 shares in the last quarter. Baker BROS. Advisors LP lifted its position in shares of Viridian Therapeutics by 13.0% during the 4th quarter. Baker BROS. Advisors LP now owns 1,971,678 shares of the company’s stock valued at $61,359,000 after buying an additional 227,272 shares in the last quarter. Avoro Capital Advisors LLC purchased a new position in shares of Viridian Therapeutics during the 4th quarter valued at about $46,680,000. Finally, Parkman Healthcare Partners LLC bought a new position in shares of Viridian Therapeutics during the 2nd quarter valued at approximately $25,306,000.

About Viridian Therapeutics

Viridian Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious diseases involving the immune system. The company’s primary focus is thyroid eye disease (TED), an autoimmune disorder that can cause inflammation, pain, swelling and vision-related complications.

Viridian’s lead programs target the insulin-like growth factor 1 receptor (IGF-1R), a pathway associated with TED. Its pipeline has included investigational therapies such as veligrotug (VRDN-001), an intravenous antibody designed to block IGF-1R, and subcutaneous formulations intended to provide more convenient administration.