Viridian Therapeutics (NASDAQ:VRDN) Stock Price Target Raised at Truist Financial

Key Points

• Truist Financial raised its price target on Viridian Therapeutics from $39 to $42 and maintained a Buy rating, implying 45.13% potential upside from the stock’s current price.
• Analyst sentiment is broadly positive: ten analysts rate VRDN Buy and one rates it Sell, resulting in a consensus Moderate Buy rating and an average target of $39.55.
• Viridian reported a quarterly loss of $0.81 per share, narrower than the $1.02 consensus estimate, while revenue of $25.75 million topped expectations of $4.72 million.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) had its price objective boosted by Truist Financial from $39.00 to $42.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's target price suggests a potential upside of 45.13% from the stock's current price.

Several other equities analysts have also recently commented on the stock. Needham & Company LLC increased their price target on shares of Viridian Therapeutics from $34.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday. Royal Bank Of Canada boosted their target price on shares of Viridian Therapeutics from $36.00 to $38.00 and gave the company an "outperform" rating in a research note on Tuesday, September 22nd. Weiss Ratings raised shares of Viridian Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, September 14th. Wedbush raised their price target on shares of Viridian Therapeutics from $41.00 to $42.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, Wells Fargo & Company lifted their price target on shares of Viridian Therapeutics from $31.00 to $34.00 and gave the company an "overweight" rating in a report on Thursday. Ten investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $39.55.

Viridian Therapeutics Trading Down 0.4%

Shares of VRDN stock traded down $0.12 during mid-day trading on Thursday, reaching $28.94. The company's stock had a trading volume of 1,236,637 shares, compared to its average volume of 2,149,003. The company's 50 day simple moving average is $21.80 and its 200-day simple moving average is $21.85. 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 firm has a market capitalization of $3.28 billion, a PE ratio of -8.62 and a beta of 1.07.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The company reported ($0.81) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.02) by $0.21. The firm had revenue of $25.75 million during the quarter, compared to the consensus estimate of $4.72 million. Viridian Therapeutics had a negative return on equity of 72.97% and a negative net margin of 505.86%. On average, research analysts predict that Viridian Therapeutics will post -4.07 EPS for the current fiscal year.

Insider Activity at Viridian Therapeutics

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

Institutional Investors Weigh In On Viridian Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP grew its position in Viridian Therapeutics by 1.6% during the second quarter. Wellington Management Group LLP now owns 3,128,362 shares of the company's stock valued at $57,468,000 after purchasing an additional 49,808 shares in the last quarter. Parkman Healthcare Partners LLC purchased a new position in shares of Viridian Therapeutics during the 2nd quarter valued at $25,306,000. Bank of America Corp DE increased its stake in shares of Viridian Therapeutics by 17.5% in the first quarter. Bank of America Corp DE now owns 1,163,615 shares of the company's stock worth $22,760,000 after acquiring an additional 173,498 shares during the last quarter. Rice Hall James & Associates LLC purchased a new stake in shares of Viridian Therapeutics during the second quarter worth $21,601,000. Finally, Elmind Capital LP purchased a new stake in shares of Viridian Therapeutics during the second quarter worth $18,093,182.

Key Headlines Impacting Viridian Therapeutics

Here are the key news stories impacting Viridian Therapeutics this week:

• Positive Sentiment: Analysts raised their targets and maintained bullish ratings: Wedbush increased its target to $42 and kept an “outperform” rating; HC Wainwright raised its target to $40 and kept a “buy” rating; and Needham lifted its target to $38 with a “buy” rating. Read More., Read More., Read More.
• Positive Sentiment: Viridian reported a Q3 loss of $0.81 per share, narrower than analysts’ roughly $1.01–$1.02 estimate, while revenue of $25.75 million exceeded the $4.72 million estimate. The earnings beat may have supported investor sentiment, although the loss was larger than a year earlier. Read More.
• Positive Sentiment: The company signaled it is targeting a Q1 2027 biologics license application for elegrobart and expects Lumvoa’s launch to pursue broad coverage over the next six to nine months. Progress toward regulatory submission and commercial access could strengthen the pipeline and launch outlook. Read More.
• Negative Sentiment: A separate analysis argued that VRDN may be overvalued even with its new launch, raising a potential concern about how much expected commercial progress is already reflected in the shares. Read More.

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.

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