Viridian Therapeutics’ (VRDN) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Viridian Therapeutics (NASDAQ:VRDN) in a report issued on Wednesday,Benzinga reports. They currently have a $38.00 price objective on the stock.

Several other equities research analysts have also recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and set a $44.00 target price on shares of Viridian Therapeutics in a research note on Thursday, September 19th. 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 report on Thursday, September 12th. Wedbush reissued an “outperform” rating and issued a $42.00 price objective on shares of Viridian Therapeutics in a research note on Monday, July 29th. Oppenheimer reissued an “outperform” rating and set a $28.00 price target (down from $31.00) on shares of Viridian Therapeutics in a research note on Monday, August 12th. Finally, BTIG Research lifted their price target on shares of 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 eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.33.

Viridian Therapeutics Price Performance

VRDN stock opened at $20.14 on Wednesday. The company’s 50-day moving average price is $22.64 and its two-hundred day moving average price is $16.97. The firm has a market cap of $1.60 billion, a P/E ratio of -4.67 and a beta of 1.10. The company has a quick ratio of 15.82, a current ratio of 15.82 and a debt-to-equity ratio of 0.05. Viridian Therapeutics has a 12 month low of $11.40 and a 12 month high of $27.20.

Insiders Place Their Bets

In related news, Director Fairmount Funds Management Llc purchased 1,600,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was purchased at an average cost of $18.75 per share, with a total value of $30,000,000.00. Following the completion of the acquisition, the director now directly owns 3,445,813 shares of the company’s stock, valued at approximately $64,608,993.75. The trade was a 86.68 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Thomas W. Beetham acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average cost 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 in the company, valued at $140,460. This represents a 500.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 1,626,400 shares of company stock worth $30,616,312 over the last quarter. 0.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Viridian Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Ameritas Investment Partners Inc. grew its holdings in shares of Viridian Therapeutics by 19.2% during the first quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock worth $87,000 after purchasing an additional 799 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Viridian Therapeutics by 4.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,822 shares of the company’s stock worth $505,000 after buying an additional 1,135 shares during the last quarter. Arizona State Retirement System lifted its holdings 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 acquiring an additional 1,688 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Viridian Therapeutics by 17.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,997 shares of the company’s stock worth $318,000 after acquiring an additional 2,036 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Viridian Therapeutics by 24.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock valued at $156,000 after acquiring an additional 2,359 shares during the last quarter.

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.