Needham & Company LLC Reiterates “Buy” Rating for Viridian Therapeutics (NASDAQ:VRDN)

Viridian Therapeutics (NASDAQ:VRDN)‘s stock had its “buy” rating restated by Needham & Company LLC in a report issued on Wednesday,Benzinga reports. They presently have a $38.00 price target on the stock. Needham & Company LLC’s price objective points to a potential upside of 75.60% from the company’s current price.

Several other analysts also recently commented on the stock. BTIG Research boosted their target price on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. The Goldman Sachs Group increased their target price on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price target on shares of Viridian Therapeutics in a research report on Tuesday, September 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $44.00 price target on shares of Viridian Therapeutics in a research note on Thursday, September 19th. Finally, Oppenheimer reissued an “outperform” rating and issued a $28.00 price objective (down from $31.00) on shares of Viridian Therapeutics in a research note on Monday, August 12th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.33.

Viridian Therapeutics Trading Down 3.7 %

Shares of NASDAQ VRDN opened at $21.64 on Wednesday. The business has a 50 day simple moving average of $22.35 and a 200 day simple moving average of $16.89. Viridian Therapeutics has a 52 week low of $11.40 and a 52 week high of $27.20. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -5.02 and a beta of 1.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 15.82 and a current ratio of 15.82.

Insider Activity at Viridian Therapeutics

In related news, CEO Stephen F. Mahoney acquired 21,400 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was acquired at an average price of $23.33 per share, with a total value of $499,262.00. Following the completion of the transaction, the chief executive officer now owns 21,400 shares of the company’s stock, valued at approximately $499,262. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Fairmount Funds Management Llc bought 1,600,000 shares of Viridian Therapeutics stock in a transaction that occurred on Friday, September 13th. The stock was bought at an average price of $18.75 per share, with a total value of $30,000,000.00. Following the purchase, the director now owns 3,445,813 shares of the company’s stock, valued at $64,608,993.75. This trade represents a 86.68 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 1,626,400 shares of company stock worth $30,616,312 in the last 90 days. 0.65% of the stock is owned by company insiders.

Hedge Funds Weigh In On Viridian Therapeutics

Several large investors have recently added to or reduced their stakes in VRDN. Quest Partners LLC increased its position in shares of Viridian Therapeutics by 344.0% during the second quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock valued at $79,000 after purchasing an additional 4,692 shares during the period. Ameritas Investment Partners Inc. raised its stake in shares of Viridian Therapeutics by 19.2% in the 1st 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Viridian Therapeutics during the 3rd quarter worth about $149,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings 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 worth $156,000 after acquiring an additional 2,359 shares during the period. Finally, AlphaCentric Advisors LLC increased its stake in Viridian Therapeutics by 108.3% in the second quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock valued at $163,000 after acquiring an additional 6,500 shares during the period.

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.