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

Needham & Company LLC reiterated their buy rating on shares of Viridian Therapeutics (NASDAQ:VRDN - Free Report) in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a $38.00 target price on the stock.

A number of other equities research analysts have also recently issued reports on the stock. The Goldman Sachs Group lifted their price target 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. Royal Bank of Canada lifted their price target on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the company an "outperform" rating in a research note on Tuesday, December 17th. HC Wainwright reissued a "buy" rating and issued a $34.00 price target on shares of Viridian Therapeutics in a research note on Monday, December 16th. BTIG Research lifted their price target on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. Finally, TD Cowen began coverage on shares of Viridian Therapeutics in a research note on Monday, November 25th. They set a "buy" rating on the stock. Three equities research 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of $35.70.

Viridian Therapeutics Stock Performance

Shares of NASDAQ:VRDN traded up $0.84 during trading on Tuesday, hitting $20.91. 1,912,216 shares of the stock traded hands, compared to its average volume of 1,777,204. The company has a quick ratio of 18.55, a current ratio of 18.55 and a debt-to-equity ratio of 0.04. The company has a market cap of $1.66 billion, a price-to-earnings ratio of -4.85 and a beta of 1.13. The company has a fifty day moving average price of $20.77 and a two-hundred day moving average price of $18.75. Viridian Therapeutics has a 52-week low of $11.40 and a 52-week high of $27.20.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The firm had revenue of $0.09 million for the quarter, compared to analysts' expectations of $0.08 million. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. As a group, equities analysts predict that Viridian Therapeutics will post -4.03 EPS for the current year.

Institutional Trading of Viridian Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of VRDN. FMR LLC increased its stake in Viridian Therapeutics by 16.8% during the third quarter. FMR LLC now owns 11,183,478 shares of the company's stock worth $254,424,000 after purchasing an additional 1,610,130 shares during the period. Novo Holdings A S grew its position in shares of Viridian Therapeutics by 81.8% during the second quarter. Novo Holdings A S now owns 2,000,000 shares of the company's stock worth $26,020,000 after buying an additional 900,000 shares in the last quarter. Maverick Capital Ltd. grew its position in shares of Viridian Therapeutics by 22.9% during the second quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company's stock worth $43,036,000 after buying an additional 615,531 shares in the last quarter. Parkman Healthcare Partners LLC acquired a new position in shares of Viridian Therapeutics during the third quarter worth about $9,669,000. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Viridian Therapeutics during the third quarter worth about $8,917,000.

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-003, a next generation IGF-1R humanized monoclonal antibodies targeting IGF-1R and incorporating half-life extension technology for the treatment of TED.