Wells Fargo & Company Boosts Viridian Therapeutics (NASDAQ:VRDN) Price Target to $29.00

Viridian Therapeutics (NASDAQ:VRDN) had its target price hoisted by equities researchers at Wells Fargo & Company from $26.00 to $29.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential downside of 12.65% from the company’s previous close.

A number of other brokerages also recently weighed in on VRDN. Truist Financial lowered their price objective on shares of Viridian Therapeutics from $41.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. BTIG Research restated a “buy” rating and issued a $61.00 price target on shares of Viridian Therapeutics in a research note on Tuesday, November 4th. Needham & Company LLC lifted their price objective on Viridian Therapeutics from $34.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, December 23rd. The Goldman Sachs Group reissued a “buy” rating and issued a $40.00 target price on shares of Viridian Therapeutics in a report on Thursday, November 6th. Finally, Wedbush boosted their price target on Viridian Therapeutics from $42.00 to $47.00 and gave the company an “outperform” rating in a research note on Wednesday, December 10th. Thirteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.64.

Viridian Therapeutics Trading Up 0.6%

Viridian Therapeutics stock opened at $33.20 on Tuesday. Viridian Therapeutics has a one year low of $9.90 and a one year high of $34.29. The business’s fifty day moving average is $32.13 and its 200 day moving average is $24.94. The stock has a market capitalization of $3.17 billion, a PE ratio of -10.99 and a beta of 0.90. The company has a debt-to-equity ratio of 0.07, a current ratio of 11.28 and a quick ratio of 11.28.

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

Insider Transactions at Viridian Therapeutics

In related news, insider Jennifer Tousignant sold 2,272 shares of the business’s stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $31.16, for a total transaction of $70,795.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.58% of the company’s stock.

Institutional Trading of Viridian Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of VRDN. Aster Capital Management DIFC Ltd bought a new stake in Viridian Therapeutics during the third quarter valued at about $35,000. Farther Finance Advisors LLC grew its holdings in Viridian Therapeutics by 332.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,940 shares of the company’s stock valued at $42,000 after buying an additional 1,491 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Viridian Therapeutics by 947.7% in the third quarter. Bessemer Group Inc. now owns 2,085 shares of the company’s stock valued at $45,000 after purchasing an additional 1,886 shares in the last quarter. Larson Financial Group LLC purchased a new position in shares of Viridian Therapeutics in the 3rd quarter worth $52,000. Finally, US Bancorp DE grew its position in Viridian Therapeutics by 23.2% in 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 in the last quarter.

About Viridian Therapeutics

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.