Viridian Therapeutics (NASDAQ:VRDN) Stock Gets Price Target Increase from Truist Financial

Viridian Therapeutics (NASDAQ:VRDN) had its price objective increased by equities researchers at Truist Financial from $39.00 to $42.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial‘s price target points to a potential upside of 47.42% from the company’s previous close.

Several other brokerages have also recently issued reports on VRDN. Wall Street Zen cut shares of Viridian Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Sunday, October 4th. HC Wainwright raised their price objective on shares of Viridian Therapeutics from $22.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday. Royal Bank Of Canada upped their target price on Viridian Therapeutics from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Tuesday, September 22nd. Needham & Company LLC increased their target price on Viridian Therapeutics from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Weiss Ratings raised Viridian Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 14th. Eleven analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Viridian Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $41.00.

Viridian Therapeutics Trading Down 0.2%

Viridian Therapeutics stock traded down $0.06 during mid-day trading on Thursday, reaching $28.49. 4,487,163 shares of the company traded hands, compared to its average volume of 2,101,929. The company has a debt-to-equity ratio of 0.43, a current ratio of 16.95 and a quick ratio of 16.95. The firm’s 50 day moving average price is $21.97 and its 200 day moving average price is $21.81. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of -7.42 and a beta of 1.07. Viridian Therapeutics has a 52-week low of $13.18 and a 52-week high of $34.29.

Viridian Therapeutics (NASDAQ:VRDN) last posted its earnings results on Wednesday, November 4th. The company reported ($0.81) EPS for the quarter, topping the consensus estimate of ($1.02) by $0.21. Viridian Therapeutics had a negative net margin of 505.86% and a negative return on equity of 72.97%. The firm had revenue of $25.75 million during the quarter, compared to analysts’ expectations of $4.72 million. On average, analysts anticipate that Viridian Therapeutics will post -3.94 earnings per share for the current fiscal year.

Insider Transactions at Viridian Therapeutics

In other news, insider Jennifer Tousignant sold 14,212 shares of Viridian Therapeutics stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $24.50, for a total transaction of $348,194.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. KBC Group NV bought a new position in Viridian Therapeutics during the 1st quarter valued at approximately $34,000. Integrated Wealth Concepts LLC bought a new stake in Viridian Therapeutics in the second quarter worth $33,000. State of Wyoming purchased a new stake in shares of Viridian Therapeutics in the second quarter worth $43,000. Fulcrum Asset Management LLP purchased a new stake in shares of Viridian Therapeutics in the third quarter worth $97,000. Finally, AlphaCentric Advisors LLC bought a new position in shares of Viridian Therapeutics during the third quarter valued at $216,000.

Viridian Therapeutics News Summary

Here are the key news stories impacting Viridian Therapeutics this week:

• Positive Sentiment: Viridian reported a third-quarter loss of $0.81 per share, narrower than analysts’ roughly $1.02-per-share estimate. The earnings beat, alongside optimism around the Lumvoa launch, has supported investor interest. Viridian Therapeutics Stock Rises 5% Despite Wider Q3 Loss
• Positive Sentiment: Analysts raised targets and maintained bullish ratings. Recent increases include Leerink Partners to $54, RBC to $41, Truist to $42, Wells Fargo to $34, Wedbush to $42 and HC Wainwright to $40. Zacks also noted a positive trend in earnings estimate revisions, though price targets are not guarantees. Zacks analyst outlook
• Neutral Sentiment: The company will present Phase 1 results for VRDN-008 and outline plans for its FcRn portfolio on November 9. The data and development plans could provide meaningful signals about the pipeline, but the outcome is not yet known. VRDN-008 conference call announcement

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious autoimmune diseases. The company’s lead research area is thyroid eye disease (TED), a debilitating condition that can cause eye inflammation, swelling, pain and vision-related complications.

Viridian’s pipeline is centered on antibodies designed to inhibit the insulin-like growth factor-1 receptor (IGF-1R), a target associated with TED. Its investigational therapies include veligrotug (VRDN-001), an intravenous treatment candidate, and VRDN-003, a subcutaneous formulation being developed to provide a more convenient administration option.