Viridian Therapeutics (NASDAQ:VRDN) Stock Rating Raised to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Viridian Therapeutics (NASDAQ:VRDN) from a strong sell rating to a hold rating in a research note released on Saturday morning,Wall Street Zen reports.

VRDN has been the topic of a number of other reports. Wedbush upped their price target on shares of Viridian Therapeutics from $41.00 to $42.00 and gave the stock an “outperform” rating in a research note on Thursday. Wells Fargo & Company raised their price objective on shares of Viridian Therapeutics from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday. HC Wainwright raised their price objective on shares of Viridian Therapeutics from $22.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday. Needham & Company LLC boosted their price objective on shares of Viridian Therapeutics from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Leerink Partners upped their target price on shares of Viridian Therapeutics from $50.00 to $54.00 and gave the stock an “outperform” rating in a research report on Thursday. Eleven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Viridian Therapeutics Stock Down 0.2%

Viridian Therapeutics stock opened at $28.49 on Friday. The stock’s 50 day moving average price is $21.97 and its 200 day moving average price is $21.81. Viridian Therapeutics has a 1-year low of $13.18 and a 1-year high of $34.29. The company has a market cap of $3.24 billion, a PE ratio of -7.42 and a beta of 1.07. The company has a debt-to-equity ratio of 0.43, a current ratio of 16.95 and a quick ratio of 16.95.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings data on Wednesday, November 4th. The company reported ($0.81) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.02) by $0.21. Viridian Therapeutics had a negative return on equity of 77.15% and a negative net margin of 1,620.79%. The firm had revenue of $25.75 million during the quarter, compared to analysts’ expectations of $4.72 million. On average, sell-side analysts predict that Viridian Therapeutics will post -3.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other Viridian Therapeutics news, insider Jennifer Tousignant sold 14,212 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $24.50, for a total value of $348,194.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Viridian Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in VRDN. Wellington Management Group LLP increased its holdings in Viridian Therapeutics by 1.6% during the 2nd quarter. Wellington Management Group LLP now owns 3,128,362 shares of the company’s stock valued at $57,468,000 after acquiring an additional 49,808 shares in the last quarter. Parkman Healthcare Partners LLC purchased a new stake in shares of Viridian Therapeutics in the second quarter valued at about $25,306,000. Rice Hall James & Associates LLC purchased a new stake in shares of Viridian Therapeutics in the second quarter valued at about $21,601,000. Bank of America Corp DE grew its position in shares of Viridian Therapeutics by 17.5% in the first quarter. Bank of America Corp DE now owns 1,163,615 shares of the company’s stock valued at $22,760,000 after purchasing an additional 173,498 shares during the last quarter. Finally, Elmind Capital LP acquired a new stake in shares of Viridian Therapeutics in the second quarter valued at approximately $18,093,182.

Key Stories Impacting Viridian Therapeutics

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.