Viridian Therapeutics (NASDAQ:VRDN) Earns "Buy" Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Viridian Therapeutics (NASDAQ:VRDN - Free Report) in a research report released on Wednesday,Benzinga reports. Needham & Company LLC currently has a $38.00 price target on the stock.

A number of other equities analysts have also issued reports on VRDN. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $44.00 target price on shares of Viridian Therapeutics in a research report on Thursday, September 19th. Wedbush reaffirmed an "outperform" rating and issued a $42.00 price target on shares of Viridian Therapeutics in a report on Monday, July 29th. BTIG Research raised their price objective on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. The Goldman Sachs Group upped their target price on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the company a "buy" rating in a research note on Thursday, September 12th. Finally, HC Wainwright reiterated a "buy" rating and issued a $27.00 price target on shares of Viridian Therapeutics in a research note on Tuesday, September 10th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Viridian Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $35.80.

Viridian Therapeutics Stock Performance

Shares of VRDN traded up $0.59 during mid-day trading on Wednesday, reaching $23.02. 907,808 shares of the stock traded hands, compared to its average volume of 1,113,759. The stock has a fifty day simple moving average of $22.20 and a 200 day simple moving average of $16.85. Viridian Therapeutics has a 12-month low of $11.40 and a 12-month high of $27.20. The company has a current ratio of 15.82, a quick ratio of 15.82 and a debt-to-equity ratio of 0.05.

Insider Activity

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc purchased 1,600,000 shares of the business's stock in a transaction dated Friday, September 13th. The shares were bought at an average price of $18.75 per share, with a total value of $30,000,000.00. Following the completion of the acquisition, the director now owns 3,445,813 shares in the company, valued at approximately $64,608,993.75. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Stephen F. Mahoney purchased 21,400 shares of Viridian Therapeutics stock in a transaction dated Friday, September 27th. The stock was bought at an average cost of $23.33 per share, with a total value of $499,262.00. Following the purchase, the chief executive officer now owns 21,400 shares in the company, valued at approximately $499,262. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Fairmount Funds Management Llc acquired 1,600,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were bought at an average price of $18.75 per share, for a total transaction of $30,000,000.00. Following the purchase, the director now directly owns 3,445,813 shares of the company's stock, valued at approximately $64,608,993.75. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 1,626,400 shares of company stock valued at $30,616,312. 0.65% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Viridian Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. lifted its holdings in shares of Viridian Therapeutics by 19.2% in the first quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company's stock valued at $87,000 after buying an additional 799 shares during the period. Quest Partners LLC lifted its holdings in Viridian Therapeutics by 344.0% in the 2nd quarter. Quest Partners LLC now owns 6,056 shares of the company's stock valued at $79,000 after acquiring an additional 4,692 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Viridian Therapeutics in the 3rd quarter valued at about $208,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Viridian Therapeutics by 24.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company's stock valued at $156,000 after purchasing an additional 2,359 shares in the last quarter. Finally, AlphaCentric Advisors LLC grew its stake in shares of Viridian Therapeutics by 108.3% in the 2nd quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company's stock worth $163,000 after purchasing an additional 6,500 shares during the last quarter.

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.