Viridian Therapeutics (NASDAQ:VRDN) Price Target Raised to $47.00 at Wedbush

Viridian Therapeutics (NASDAQ:VRDN) had its target price boosted by stock analysts at Wedbush from $42.00 to $47.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s target price indicates a potential upside of 47.80% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Oppenheimer lifted their target price on Viridian Therapeutics from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. BTIG Research restated a “buy” rating and set a $61.00 price target on shares of Viridian Therapeutics in a research note on Tuesday, November 4th. Jefferies Financial Group initiated coverage on Viridian Therapeutics in a research report on Monday, August 25th. They set a “buy” rating and a $44.00 price target on the stock. Royal Bank Of Canada increased their price objective on Viridian Therapeutics from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Viridian Therapeutics in a research report on Wednesday, October 8th. Eleven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.08.

Viridian Therapeutics Stock Performance

Shares of Viridian Therapeutics stock opened at $31.80 on Wednesday. The company has a quick ratio of 11.28, a current ratio of 11.28 and a debt-to-equity ratio of 0.07. Viridian Therapeutics has a 52 week low of $9.90 and a 52 week high of $33.34. The firm’s 50 day moving average is $26.11 and its two-hundred day moving average is $20.24. The firm has a market capitalization of $3.04 billion, a P/E ratio of -10.53 and a beta of 0.86.

Viridian Therapeutics (NASDAQ:VRDN) last posted its earnings results on Wednesday, November 5th. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.48. Viridian Therapeutics had a negative net margin of 426.58% and a negative return on equity of 78.50%. The firm had revenue of $70.57 million for the quarter, compared to the consensus estimate of $16.21 million. The firm’s revenue for the quarter was up 81993.0% compared to the same quarter last year. Research analysts forecast that Viridian Therapeutics will post -4.03 EPS for the current fiscal year.

Insider Buying and Selling at Viridian Therapeutics

In related news, Director Fairmount Funds Management Llc purchased 454,545 shares of the firm’s stock in a transaction that occurred on Thursday, October 23rd. The stock was purchased at an average cost of $22.00 per share, with a total value of $9,999,990.00. Following the completion of the acquisition, the director directly owned 3,914,458 shares in the company, valued at $86,118,076. This trade represents a 13.14% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.65% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Viridian Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new stake in Viridian Therapeutics in the 3rd quarter valued at approximately $35,000. Farther Finance Advisors LLC raised its stake in shares of Viridian Therapeutics by 332.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,940 shares of the company’s stock worth $42,000 after buying an additional 1,491 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Viridian Therapeutics by 947.7% in the 3rd quarter. Bessemer Group Inc. now owns 2,085 shares of the company’s stock valued at $45,000 after buying an additional 1,886 shares during the period. Larson Financial Group LLC purchased a new stake in shares of Viridian Therapeutics in the third quarter valued at approximately $52,000. Finally, US Bancorp DE grew its holdings in Viridian Therapeutics by 23.2% during the third quarter. US Bancorp DE now owns 2,457 shares of the company’s stock worth $53,000 after acquiring an additional 463 shares during the period.

About Viridian Therapeutics

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.