Wells Fargo & Company Forecasts Strong Price Appreciation for Viridian Therapeutics (NASDAQ:VRDN) Stock

Key Points

• Wells Fargo raised its price target on Viridian Therapeutics to $34 from $31 and maintained an “overweight” rating, implying 15.23% upside from the prior close.
• Analyst sentiment is broadly positive: 10 analysts rate VRDN a Buy and one a Sell, with an average price target of $39.27. HC Wainwright raised its target to $40, while Needham and RBC set targets of $38.
• Viridian reported a quarterly loss of $0.81 per share, narrower than analysts expected, and revenue of $25.75 million versus the $4.72 million consensus estimate.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) had its target price raised by investment analysts at Wells Fargo & Company from $31.00 to $34.00 in a report issued on Thursday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's target price suggests a potential upside of 15.23% from the company's previous close.

Several other analysts also recently issued reports on VRDN. HC Wainwright lifted their price target on shares of Viridian Therapeutics from $22.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday. Royal Bank Of Canada upped their price objective on shares of Viridian Therapeutics from $36.00 to $38.00 and gave the stock an "outperform" rating in a report on Tuesday, September 22nd. Needham & Company LLC raised their price objective on shares of Viridian Therapeutics from $34.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday. Wall Street Zen cut shares of Viridian Therapeutics from a "sell" rating to a "strong sell" rating in a report on Sunday, October 4th. Finally, Weiss Ratings raised shares of Viridian Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, September 14th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $39.27.

Viridian Therapeutics Price Performance

VRDN stock traded up $0.45 during midday trading on Thursday, reaching $29.50. 292,380 shares of the stock were exchanged, compared to its average volume of 2,144,648. Viridian Therapeutics has a 52 week low of $13.18 and a 52 week high of $34.29. The company has a fifty day moving average price of $21.80 and a 200 day moving average price of $21.85. The company has a debt-to-equity ratio of 0.43, a current ratio of 16.95 and a quick ratio of 16.95. The stock has a market capitalization of $3.34 billion, a PE ratio of -8.76 and a beta of 1.07.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last released 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 net margin of 505.86% and a negative return on equity of 72.97%. As a group, analysts expect that Viridian Therapeutics will post -4.07 EPS for the current fiscal year.

Insider Buying and Selling at Viridian Therapeutics

In other news, insider Jennifer Tousignant sold 14,212 shares of the firm'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 document filed with the SEC, which is accessible through this link. 2.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Viridian Therapeutics

Several institutional investors have recently bought and sold shares of the stock. 71 West Capital Partners lifted its holdings in Viridian Therapeutics by 4.1% during the third quarter. 71 West Capital Partners now owns 22,282 shares of the company's stock worth $459,000 after acquiring an additional 882 shares during the period. Fulcrum Asset Management LLP bought a new position in Viridian Therapeutics in the 3rd quarter valued at $97,000. Pictet Asset Management Holding SA increased its position in shares of Viridian Therapeutics by 13.5% during the 3rd quarter. Pictet Asset Management Holding SA now owns 12,741 shares of the company's stock valued at $262,000 after purchasing an additional 1,516 shares during the last quarter. AlphaCentric Advisors LLC purchased a new stake in shares of Viridian Therapeutics during the 3rd quarter valued at $216,000. Finally, Alps Advisors Inc. raised its stake in shares of Viridian Therapeutics by 34.5% during the 3rd quarter. Alps Advisors Inc. now owns 150,078 shares of the company's stock worth $3,090,000 after purchasing an additional 38,506 shares during the period.

Viridian Therapeutics News Roundup

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.

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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