Viridian Therapeutics (NASDAQ:VRDN) Stock Gets Price Target Increase from Wedbush

Viridian Therapeutics (NASDAQ:VRDN) had its price objective raised by analysts at Wedbush from $41.00 to $42.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush‘s target price would suggest a potential upside of 47.42% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. HC Wainwright boosted their target price on shares of Viridian Therapeutics from $22.00 to $40.00 and gave the stock a “buy” rating in a report 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 research note on Wednesday. Wall Street Zen downgraded Viridian Therapeutics from a “sell” rating to a “strong sell” rating in a report on Sunday, October 4th. Royal Bank Of Canada raised their target price on Viridian Therapeutics from $36.00 to $38.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 22nd. Finally, Weiss Ratings raised Viridian Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, September 14th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell 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 $41.00.

Viridian Therapeutics Price Performance

Shares of NASDAQ:VRDN traded down $0.06 during trading on Thursday, hitting $28.49. 4,487,163 shares of the company were exchanged, compared to its average volume of 2,101,929. Viridian Therapeutics has a 1-year low of $13.18 and a 1-year high of $34.29. The company has a market capitalization of $3.23 billion, a P/E ratio of -7.42 and a beta of 1.07. The company has a quick ratio of 16.95, a current ratio of 16.95 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average is $21.97 and its 200-day moving average is $21.81.

Viridian Therapeutics (NASDAQ:VRDN) last issued its earnings results on Wednesday, November 4th. The company reported ($0.81) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.21. Viridian Therapeutics had a negative return on equity of 72.97% and a negative net margin of 505.86%. The business had revenue of $25.75 million during the quarter, compared to analysts’ expectations of $4.72 million. Equities analysts forecast that Viridian Therapeutics will post -3.94 earnings per share for the current year.

Insider Activity

In other news, insider Jennifer Tousignant sold 14,212 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $24.50, for a total value of $348,194.00. The sale was disclosed in a filing 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

Large investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC bought a new position in Viridian Therapeutics during the second quarter worth $33,000. KBC Group NV bought a new stake in Viridian Therapeutics during the first quarter valued at $34,000. State of Wyoming acquired a new stake in Viridian Therapeutics during the 2nd quarter worth about $43,000. Fulcrum Asset Management LLP acquired a new stake in Viridian Therapeutics during the 3rd quarter worth about $97,000. Finally, Man Group plc bought a new position in shares of Viridian Therapeutics in the 2nd quarter worth about $197,000.

More Viridian Therapeutics News

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.