Viridian Therapeutics’ (VRDN) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Viridian Therapeutics (NASDAQ:VRDN) in a report published on Tuesday morning,Benzinga reports. The firm currently has a $36.00 price objective on the stock.

A number of other brokerages have also weighed in on VRDN. HC Wainwright restated a “buy” rating and set a $34.00 target price on shares of Viridian Therapeutics in a research report on Wednesday, April 23rd. The Goldman Sachs Group dropped their target price on shares of Viridian Therapeutics from $31.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Royal Bank of Canada dropped their target price on shares of Viridian Therapeutics from $46.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Finally, JMP Securities decreased their price target on shares of Viridian Therapeutics from $42.00 to $38.00 and set a “market outperform” rating on the stock in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Viridian Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $36.70.

Viridian Therapeutics Price Performance

Shares of NASDAQ:VRDN opened at $13.82 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 18.55 and a current ratio of 18.55. The firm has a fifty day moving average price of $13.29 and a 200 day moving average price of $17.01. Viridian Therapeutics has a fifty-two week low of $9.90 and a fifty-two week high of $27.20. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -3.21 and a beta of 0.57.

Viridian Therapeutics (NASDAQ:VRDN) last issued its earnings results on Tuesday, May 6th. The company reported ($0.87) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.08. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. The firm had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.16 million. The company’s quarterly revenue was up .0% on a year-over-year basis. As a group, sell-side analysts expect that Viridian Therapeutics will post -4.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Viridian Therapeutics

A number of hedge funds have recently bought and sold shares of the business. Amalgamated Bank raised its stake in Viridian Therapeutics by 49.7% during the first quarter. Amalgamated Bank now owns 2,531 shares of the company’s stock valued at $34,000 after purchasing an additional 840 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Viridian Therapeutics by 1.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company’s stock valued at $669,000 after acquiring an additional 876 shares during the period. SG Americas Securities LLC raised its stake in shares of Viridian Therapeutics by 2.9% in the first quarter. SG Americas Securities LLC now owns 31,972 shares of the company’s stock valued at $431,000 after acquiring an additional 887 shares during the period. Voya Investment Management LLC raised its stake in shares of Viridian Therapeutics by 5.1% in the fourth quarter. Voya Investment Management LLC now owns 21,397 shares of the company’s stock valued at $410,000 after acquiring an additional 1,038 shares during the period. Finally, Tudor Investment Corp ET AL raised its stake in shares of Viridian Therapeutics by 3.0% in the fourth quarter. Tudor Investment Corp ET AL now owns 38,367 shares of the company’s stock valued at $735,000 after acquiring an additional 1,106 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.