Viridian Therapeutics (NASDAQ:VRDN – Get Free Report) was upgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research report issued on Monday, MarketBeat.com reports. The firm presently has a $31.00 price objective on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 63.99% from the stock’s previous close.
A number of other research firms also recently commented on VRDN. Wedbush dropped their price objective on Viridian Therapeutics from $37.00 to $31.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 8th. The Goldman Sachs Group lowered their price objective on shares of Viridian Therapeutics from $36.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Royal Bank Of Canada upped their price target on Viridian Therapeutics from $30.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. HC Wainwright decreased their target price on Viridian Therapeutics from $34.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, March 31st. Finally, Stifel Nicolaus set a $39.00 price target on Viridian Therapeutics in a research report on Wednesday, May 13th. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.93.
Get Our Latest Report on Viridian Therapeutics
Viridian Therapeutics Stock Performance
Viridian Therapeutics (NASDAQ:VRDN – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.90) EPS for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.16. Viridian Therapeutics had a negative net margin of 490.31% and a negative return on equity of 80.19%. The company had revenue of $0.14 million for the quarter, compared to the consensus estimate of $0.04 million. During the same period in the previous year, the firm earned ($0.87) EPS. Viridian Therapeutics’s revenue was up 95.8% on a year-over-year basis. On average, equities research analysts forecast that Viridian Therapeutics will post -3.87 EPS for the current year.
Insider Buying and Selling at Viridian Therapeutics
In other news, Director Fairmount Funds Management Llc purchased 1,176,470 shares of Viridian Therapeutics stock in a transaction dated Monday, May 11th. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $19,999,990.00. Following the acquisition, the director directly owned 5,090,928 shares in the company, valued at $86,545,776. This represents a 30.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.40% of the stock is owned by company insiders.
Institutional Trading of Viridian Therapeutics
A number of institutional investors have recently added to or reduced their stakes in VRDN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Viridian Therapeutics by 1.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company’s stock valued at $669,000 after purchasing an additional 876 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Viridian Therapeutics by 33.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,231,092 shares of the company’s stock worth $16,595,000 after buying an additional 310,998 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Viridian Therapeutics by 12.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 130,570 shares of the company’s stock worth $1,760,000 after acquiring an additional 14,788 shares in the last quarter. Envestnet Asset Management Inc. bought a new position in shares of Viridian Therapeutics in the 2nd quarter valued at approximately $187,000. Finally, Creative Planning bought a new stake in Viridian Therapeutics during the second quarter worth approximately $179,000.
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.
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