Needham & Company LLC Cuts Viridian Therapeutics (NASDAQ:VRDN) Price Target to $36.00

Viridian Therapeutics (NASDAQ:VRDN) had its price objective trimmed by Needham & Company LLC from $38.00 to $36.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, HC Wainwright restated a “buy” rating and set a $34.00 target price on shares of Viridian Therapeutics in a report on Wednesday, April 23rd. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.70.

Viridian Therapeutics Stock Down 1.9 %

VRDN stock opened at $12.54 on Wednesday. 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 firm’s 50-day simple moving average is $13.71 and its 200 day simple moving average is $17.53. The stock has a market cap of $1.02 billion, a PE ratio of -2.91 and a beta of 0.57. Viridian Therapeutics has a fifty-two week low of $9.90 and a fifty-two week high of $27.20.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results on Tuesday, May 6th. The company reported ($0.87) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.08. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. The firm had revenue of $0.07 million during the quarter, compared to the consensus estimate of $0.16 million. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, sell-side analysts predict that Viridian Therapeutics will post -4.03 EPS for the current year.

Institutional Investors Weigh In On Viridian Therapeutics

Large investors have recently modified their holdings of the business. FMR LLC lifted its stake in Viridian Therapeutics by 6.2% in the fourth quarter. FMR LLC now owns 11,881,912 shares of the company’s stock valued at $227,776,000 after buying an additional 698,434 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Viridian Therapeutics by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 4,595,049 shares of the company’s stock valued at $88,087,000 after purchasing an additional 174,952 shares during the last quarter. Deep Track Capital LP boosted its holdings in Viridian Therapeutics by 20.6% during the fourth quarter. Deep Track Capital LP now owns 4,522,741 shares of the company’s stock worth $86,701,000 after purchasing an additional 771,796 shares during the last quarter. Tang Capital Management LLC increased its stake in Viridian Therapeutics by 11.1% in the 4th quarter. Tang Capital Management LLC now owns 2,492,925 shares of the company’s stock valued at $47,789,000 after buying an additional 250,000 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Viridian Therapeutics by 3.8% during the 4th quarter. Alliancebernstein L.P. now owns 2,286,994 shares of the company’s stock worth $43,842,000 after buying an additional 84,255 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.