Viridian Therapeutics (NASDAQ:VRDN) Raised to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Viridian Therapeutics from “strong sell” to “hold.”
• Analyst sentiment is broadly positive: MarketBeat reports a “Moderate Buy” consensus from 11 Buy and one Sell rating, with an average price target of $41.
• Viridian reported a quarterly loss of $0.81 per share, narrower than analysts’ $1.02 estimate, and revenue of $25.75 million versus expectations of $4.72 million.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "strong sell" rating to a "hold" rating in a research report issued on Saturday, Wall Street Zen reports.

Other research analysts have also issued research reports about the stock. Royal Bank Of Canada raised their target price on shares of Viridian Therapeutics from $38.00 to $41.00 and gave the company an "outperform" rating in a research note on Thursday. Truist Financial upped their price objective on Viridian Therapeutics from $39.00 to $42.00 and gave the stock a "buy" rating in a research report on Thursday. HC Wainwright upped their target price on Viridian Therapeutics from $22.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday. Wells Fargo & Company lifted their target price on Viridian Therapeutics from $31.00 to $34.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Needham & Company LLC lifted their price target on Viridian Therapeutics from $34.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday. Eleven investment 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, the stock has an average rating of "Moderate Buy" and an average target price of $41.00.

Viridian Therapeutics Trading Down 0.2%

Viridian Therapeutics stock opened at $28.49 on Friday. Viridian Therapeutics has a 12 month low of $13.18 and a 12 month high of $34.29. 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 stock has a market cap of $3.23 billion, a P/E ratio of -7.42 and a beta of 1.07. The company's fifty day simple moving average is $21.97 and its 200-day simple moving average is $21.81.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The company reported ($0.81) EPS for the quarter, beating 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 analyst estimates of $4.72 million. As a group, sell-side analysts forecast that Viridian Therapeutics will post -3.94 EPS for the current fiscal year.

Insider Transactions at Viridian Therapeutics

In other Viridian Therapeutics news, insider Jennifer Tousignant sold 14,212 shares of the company's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $24.50, for a total value of $348,194.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Viridian Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of VRDN. KBC Group NV bought a new stake in shares of Viridian Therapeutics in the 1st quarter worth $34,000. Integrated Wealth Concepts LLC purchased a new position in shares of Viridian Therapeutics in the second quarter valued at approximately $33,000. State of Wyoming acquired a new stake in shares of Viridian Therapeutics in the 2nd quarter valued at $43,000. Fulcrum Asset Management LLP purchased a new position in Viridian Therapeutics in the third quarter worth $97,000. Finally, AlphaCentric Advisors LLC acquired a new position in Viridian Therapeutics in the third quarter valued at $216,000.

Key Stories Impacting Viridian Therapeutics

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

About Viridian Therapeutics

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.

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