Viridian Therapeutics (NASDAQ:VRDN) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen downgraded Viridian Therapeutics from “strong sell” to “sell”, while most other analysts remain bullish on the stock.
• Recent analyst activity includes multiple price target increases, and the company now has a consensus “Moderate Buy” rating with an average target price of $38.79.
• Viridian reported a smaller-than-expected quarterly loss, with EPS of -$0.90 versus an expected -$1.06, and revenue of $0.14 million, up 95.8% year over year.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research note issued to investors on Monday.

Other equities research analysts have also recently issued reports about the company. Wedbush lifted their target price on Viridian Therapeutics from $32.00 to $43.00 and gave the company an "outperform" rating in a research note on Tuesday, June 30th. Needham & Company LLC reiterated a "buy" rating and issued a $32.00 price target on shares of Viridian Therapeutics in a report on Monday, June 29th. Truist Financial lifted their price objective on Viridian Therapeutics from $35.00 to $38.00 and gave the stock a "buy" rating in a research report on Tuesday, June 30th. Evercore set a $26.00 price target on shares of Viridian Therapeutics in a research note on Friday, May 15th. Finally, Royal Bank Of Canada upped their price objective on Viridian Therapeutics from $34.00 to $35.00 and gave the company an "outperform" rating in a report on Tuesday, June 30th. Thirteen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $38.79.

Viridian Therapeutics Stock Performance

Shares of NASDAQ VRDN opened at $18.03 on Monday. Viridian Therapeutics has a 1-year low of $13.18 and a 1-year high of $34.29. The company has a 50-day moving average of $17.50 and a two-hundred day moving average of $22.82. The company has a market cap of $1.86 billion, a PE ratio of -5.43 and a beta of 0.90. The company has a current ratio of 15.15, a quick ratio of 15.15 and a debt-to-equity ratio of 0.10.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.90) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.16. The business had revenue of $0.14 million for the quarter, compared to analysts' expectations of $0.04 million. Viridian Therapeutics had a negative net margin of 490.31% and a negative return on equity of 80.19%. Viridian Therapeutics's revenue was up 95.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.87) earnings per share. As a group, equities analysts expect that Viridian Therapeutics will post -3.87 earnings per share for the current fiscal year.

Insider Activity at Viridian Therapeutics

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc acquired 1,176,470 shares of the business's stock in a transaction dated Monday, May 11th. The shares were acquired at an average price of $17.00 per share, for a total transaction of $19,999,990.00. Following the acquisition, the director directly owned 5,090,928 shares of the company's stock, valued at approximately $86,545,776. This trade represents a 30.05% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Viridian Therapeutics

Large investors have recently bought and sold shares of the business. ANTIPODES PARTNERS Ltd bought a new position in Viridian Therapeutics in the fourth quarter valued at approximately $36,000. KBC Group NV acquired a new stake in shares of Viridian Therapeutics during the first quarter worth $34,000. Larson Financial Group LLC acquired a new stake in shares of Viridian Therapeutics during the third quarter worth $52,000. US Bancorp DE raised its stake in shares of Viridian Therapeutics by 23.2% in the 3rd quarter. US Bancorp DE now owns 2,457 shares of the company's stock valued at $53,000 after purchasing an additional 463 shares during the period. Finally, State of Wyoming acquired a new position in shares of Viridian Therapeutics during the first quarter worth about $93,000.

About Viridian Therapeutics

Viridian Therapeutics, Inc NASDAQ: VRDN is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted antibody therapeutics for patients suffering from rare and serious diseases. The company's lead program, VRDN-001, is a fully human monoclonal antibody that antagonizes the insulin-like growth factor-1 receptor (IGF-1R), with an initial focus on thyroid eye disease (TED). By selectively inhibiting IGF-1R signaling, VRDN-001 aims to reduce inflammation and tissue remodeling associated with TED and related disorders.

In addition to VRDN-001, Viridian is advancing a second antibody program, VRDN-002, which targets complement-mediated pathways implicated in autoimmune and inflammatory diseases.

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