Viridian Therapeutics (NASDAQ:VRDN) Rating Reiterated by Wedbush

Wedbush reiterated their outperform rating on shares of Viridian Therapeutics (NASDAQ:VRDN) in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a $46.00 target price on the stock.

A number of other brokerages have also issued reports on VRDN. HC Wainwright decreased their target price on Viridian Therapeutics from $40.00 to $37.00 and set a buy rating on the stock in a research report on Thursday, August 10th. JMP Securities dropped their target price on shares of Viridian Therapeutics from $44.00 to $42.00 and set a market outperform rating on the stock in a research report on Wednesday, August 9th. Needham & Company LLC reduced their price target on shares of Viridian Therapeutics from $47.00 to $40.00 and set a buy rating for the company in a research report on Thursday, August 10th. Oppenheimer lowered their price objective on Viridian Therapeutics from $40.00 to $35.00 and set an outperform rating on the stock in a report on Wednesday, August 9th. Finally, Wells Fargo & Company reduced their target price on Viridian Therapeutics from $46.00 to $39.00 and set an overweight rating for the company in a report on Wednesday, August 9th. Fourteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Viridian Therapeutics has an average rating of Buy and a consensus price target of $42.57.

Viridian Therapeutics Stock Up 0.1 %

VRDN opened at $17.53 on Wednesday. The company has a fifty day moving average of $19.33 and a two-hundred day moving average of $23.81. The company has a debt-to-equity ratio of 0.03, a quick ratio of 12.09 and a current ratio of 12.09. Viridian Therapeutics has a fifty-two week low of $16.40 and a fifty-two week high of $39.00. The stock has a market capitalization of $765.54 million, a price-to-earnings ratio of -3.60 and a beta of 0.91.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings results on Tuesday, August 8th. The company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.26) by ($0.01). Viridian Therapeutics had a negative return on equity of 86.39% and a negative net margin of 13,462.86%. The business had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.25 million. During the same period in the previous year, the company posted ($1.06) EPS. The business’s revenue for the quarter was down 71.9% compared to the same quarter last year. On average, research analysts expect that Viridian Therapeutics will post -5.31 earnings per share for the current year.

Institutional Trading of Viridian Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in VRDN. BlackRock Inc. lifted its holdings in Viridian Therapeutics by 12.4% in the second quarter. BlackRock Inc. now owns 3,116,135 shares of the company’s stock valued at $74,133,000 after acquiring an additional 342,749 shares during the last quarter. VR Adviser LLC lifted its stake in shares of Viridian Therapeutics by 14.2% in the 2nd quarter. VR Adviser LLC now owns 3,082,622 shares of the company’s stock valued at $73,336,000 after purchasing an additional 382,757 shares during the last quarter. State Street Corp grew its holdings in shares of Viridian Therapeutics by 21.5% during the 2nd quarter. State Street Corp now owns 2,918,369 shares of the company’s stock worth $69,428,000 after purchasing an additional 516,557 shares during the period. Commodore Capital LP increased its position in shares of Viridian Therapeutics by 0.5% during the 2nd quarter. Commodore Capital LP now owns 2,200,000 shares of the company’s stock worth $52,338,000 after purchasing an additional 10,341 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Viridian Therapeutics by 31.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,856,800 shares of the company’s stock worth $38,083,000 after purchasing an additional 445,898 shares during the last quarter.

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-002 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.