Needham & Company LLC Issues Pessimistic Forecast for Viridian Therapeutics (NASDAQ:VRDN) Stock Price

Viridian Therapeutics (NASDAQ:VRDN - Free Report) had its price objective lowered by Needham & Company LLC from $38.00 to $36.00 in a research note released on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Separately, HC Wainwright restated a "buy" rating and set a $34.00 price objective on shares of Viridian Therapeutics in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $36.70.

Viridian Therapeutics Price Performance

Viridian Therapeutics stock traded down $0.24 during trading hours on Wednesday, reaching $12.54. 655,726 shares of the stock were exchanged, compared to its average volume of 1,195,808. The stock has a 50 day moving average of $13.71 and a two-hundred day moving average of $17.53. The company has a current ratio of 18.55, a quick ratio of 18.55 and a debt-to-equity ratio of 0.04. Viridian Therapeutics has a twelve month low of $9.90 and a twelve month high of $27.20. The company has a market cap of $1.02 billion, a P/E ratio of -2.91 and a beta of 0.57.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.87) earnings per share for the quarter, beating the consensus estimate of ($0.95) by $0.08. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. The company had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.16 million. The business's revenue for the quarter was up .0% on a year-over-year basis. Equities analysts expect that Viridian Therapeutics will post -4.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Viridian Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Viridian Therapeutics by 6.2% during the 4th quarter. FMR LLC now owns 11,881,912 shares of the company's stock valued at $227,776,000 after purchasing an additional 698,434 shares during the last quarter. Vanguard Group Inc. increased its position in Viridian Therapeutics by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 4,595,049 shares of the company's stock worth $88,087,000 after buying an additional 174,952 shares during the last quarter. Deep Track Capital LP raised its stake in Viridian Therapeutics by 20.6% in the 4th quarter. Deep Track Capital LP now owns 4,522,741 shares of the company's stock valued at $86,701,000 after acquiring an additional 771,796 shares during the period. Tang Capital Management LLC lifted its stake in shares of Viridian Therapeutics by 11.1% during the 4th quarter. Tang Capital Management LLC now owns 2,492,925 shares of the company's stock valued at $47,789,000 after buying an additional 250,000 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of Viridian Therapeutics by 3.8% in the fourth quarter. Alliancebernstein L.P. now owns 2,286,994 shares of the company's stock worth $43,842,000 after acquiring an additional 84,255 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.