Wells Fargo & Company Lowers Viridian Therapeutics (NASDAQ:VRDN) Price Target to $26.00

Key Points

• Wells Fargo & Company has lowered its price target for Viridian Therapeutics from $27.00 to $26.00, maintaining an "equal weight" rating on the stock, which indicates a potential upside of 55.95% from its last close.
• Multiple analysts have adjusted their price targets for Viridian, with ranges from $26.00 to $38.00, while the consensus rating remains a "Moderate Buy" with an average target of $37.13.
• Shares of Viridian Therapeutics are currently down 3.1%, trading at $16.67, following recent financial results that met EPS estimates at ($1.00) but showed a large negative net margin.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) had its target price lowered by stock analysts at Wells Fargo & Company from $27.00 to $26.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's target price suggests a potential upside of 58.44% from the company's previous close.

VRDN has been the subject of a number of other research reports. Oppenheimer upped their price target on Viridian Therapeutics from $28.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday. The Goldman Sachs Group reduced their price target on Viridian Therapeutics from $31.00 to $27.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Needham & Company LLC reduced their price target on Viridian Therapeutics from $36.00 to $34.00 and set a "buy" rating for the company in a report on Wednesday. Royal Bank Of Canada cut their price objective on Viridian Therapeutics from $46.00 to $45.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Finally, HC Wainwright reiterated a "buy" rating and set a $34.00 price objective on shares of Viridian Therapeutics in a research note on Wednesday, April 23rd. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $37.00.

Viridian Therapeutics Price Performance

NASDAQ VRDN traded down $0.12 during trading hours on Thursday, reaching $16.41. The company's stock had a trading volume of 879,632 shares, compared to its average volume of 702,380. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -4.28 and a beta of 0.42. Viridian Therapeutics has a 1-year low of $9.90 and a 1-year high of $27.20. The company has a debt-to-equity ratio of 0.05, a current ratio of 19.49 and a quick ratio of 19.49. The company's 50-day moving average is $15.95 and its two-hundred day moving average is $15.19.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($1.00) earnings per share for the quarter, hitting analysts' consensus estimates of ($1.00). The company had revenue of $0.08 million during the quarter, compared to analysts' expectations of $0.05 million. Viridian Therapeutics had a negative return on equity of 72.85% and a negative net margin of 112,806.88%. Viridian Therapeutics's quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.81) EPS. On average, equities analysts predict that Viridian Therapeutics will post -4.03 EPS for the current year.

Institutional Investors Weigh In On Viridian Therapeutics

Large investors have recently bought and sold shares of the company. Amalgamated Bank grew its position in shares of Viridian Therapeutics by 49.7% in the first quarter. Amalgamated Bank now owns 2,531 shares of the company's stock valued at $34,000 after purchasing an additional 840 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Viridian Therapeutics by 1.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company's stock valued at $669,000 after purchasing an additional 876 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Viridian Therapeutics by 2.9% in the first quarter. SG Americas Securities LLC now owns 31,972 shares of the company's stock valued at $431,000 after purchasing an additional 887 shares in the last quarter. Voya Investment Management LLC grew its position in shares of Viridian Therapeutics by 5.1% in the fourth quarter. Voya Investment Management LLC now owns 21,397 shares of the company's stock valued at $410,000 after purchasing an additional 1,038 shares in the last quarter. Finally, Tudor Investment Corp ET AL grew its position in shares of Viridian Therapeutics by 3.0% in the fourth quarter. Tudor Investment Corp ET AL now owns 38,367 shares of the company's stock valued at $735,000 after purchasing an additional 1,106 shares in 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.