Viridian Therapeutics (NASDAQ:VRDN) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Viridian Therapeutics (NASDAQ:VRDN - Free Report) in a research report released on Monday,Benzinga reports. They currently have a $34.00 price target on the stock.

Several other research firms have also issued reports on VRDN. TD Cowen initiated coverage on shares of Viridian Therapeutics in a report on Monday, November 25th. They issued a "buy" rating on the stock. Needham & Company LLC reissued a "buy" rating and issued a $38.00 price objective on shares of Viridian Therapeutics in a research note on Monday, November 25th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $44.00 target price on shares of Viridian Therapeutics in a research note on Thursday, December 5th. The Goldman Sachs Group boosted their price target on Viridian Therapeutics from $25.00 to $31.00 and gave the company a "buy" rating in a research note on Thursday, September 12th. Finally, BTIG Research increased their price target on Viridian Therapeutics from $56.00 to $61.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, Viridian Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $36.33.

Viridian Therapeutics Trading Up 20.7 %

VRDN traded up $3.69 during midday trading on Monday, hitting $21.54. 8,841,986 shares of the company were exchanged, compared to its average volume of 1,146,513. The firm's 50 day moving average price is $22.00 and its 200-day moving average price is $17.99. Viridian Therapeutics has a 1-year low of $11.40 and a 1-year high of $27.20. The firm has a market capitalization of $1.71 billion, a P/E ratio of -5.00 and a beta of 1.04. The company has a quick ratio of 18.55, a current ratio of 18.55 and a debt-to-equity ratio of 0.04.

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

Insider Buying and Selling

In related news, CEO Stephen F. Mahoney acquired 21,400 shares of the firm's stock in a transaction on Friday, September 27th. The stock was purchased at an average cost of $23.33 per share, with a total value of $499,262.00. Following the acquisition, the chief executive officer now owns 21,400 shares of the company's stock, valued at approximately $499,262. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Thomas W. Beetham bought 5,000 shares of the company's stock in a transaction dated Friday, September 27th. The stock was bought at an average price of $23.41 per share, for a total transaction of $117,050.00. Following the acquisition, the chief operating officer now directly owns 6,000 shares of the company's stock, valued at approximately $140,460. This represents a 500.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.65% of the stock is owned by company insiders.

Hedge Funds Weigh In On Viridian Therapeutics

A number of hedge funds have recently bought and sold shares of VRDN. Quest Partners LLC boosted its stake in shares of Viridian Therapeutics by 344.0% in the 2nd quarter. Quest Partners LLC now owns 6,056 shares of the company's stock worth $79,000 after buying an additional 4,692 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Viridian Therapeutics in the third quarter worth $149,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Viridian Therapeutics by 24.6% in 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 during the period. AlphaCentric Advisors LLC increased its position in shares of Viridian Therapeutics by 108.3% during the 2nd quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company's stock valued at $163,000 after purchasing an additional 6,500 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Viridian Therapeutics by 14.7% during the 2nd quarter. Arizona State Retirement System now owns 13,178 shares of the company's stock worth $171,000 after purchasing an additional 1,688 shares during the period.

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.