Viridian Therapeutics' (VRDN) "Sell (D-)" Rating Reaffirmed at Weiss Ratings

Key Points

• Viridian Therapeutics (NASDAQ: VRDN) has had its "sell (D-)" rating reaffirmed by Weiss Ratings amid mixed analyst recommendations.
• While Weiss Ratings issued a "sell" rating, other analysts have varied opinions, with eight analysts rating it as "buy" and setting an average target price of $35.38.
• Despite a recent trading increase of 0.4%, Viridian reported negative earnings with a significant net margin decline and a forecast EPS of -4.03 for the current year.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report)'s stock had its "sell (d-)" rating reissued by equities research analysts at Weiss Ratings in a report issued on Friday,Weiss Ratings reports.

A number of other equities research analysts also recently weighed in on VRDN. Jefferies Financial Group started coverage on shares of Viridian Therapeutics in a research note on Monday, August 25th. They set a "buy" rating and a $44.00 price target for the company. The Goldman Sachs Group boosted their price target on shares of Viridian Therapeutics from $27.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Oppenheimer boosted their price target on shares of Viridian Therapeutics from $32.00 to $36.00 and gave the stock an "outperform" rating in a research note on Tuesday. Needham & Company LLC dropped their price target on shares of Viridian Therapeutics from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Finally, Royal Bank Of Canada dropped their price target on shares of Viridian Therapeutics from $45.00 to $41.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $35.38.

Viridian Therapeutics Trading Up 0.4%

Shares of NASDAQ VRDN traded up $0.09 during trading on Friday, reaching $22.16. The company had a trading volume of 1,458,100 shares, compared to its average volume of 1,255,365. Viridian Therapeutics has a 52 week low of $9.90 and a 52 week high of $27.20. The company has a current ratio of 11.01, a quick ratio of 11.01 and a debt-to-equity ratio of 0.04. The business's 50 day moving average price is $20.09 and its 200-day moving average price is $16.59.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($1.00) earnings per share for the quarter, hitting analysts' consensus estimates of ($1.00). Viridian Therapeutics had a negative net margin of 112,806.88% and a negative return on equity of 78.95%. The company had revenue of $0.08 million during the quarter, compared to the consensus estimate of $0.05 million. During the same period in the previous year, the firm posted ($0.81) earnings per share. The company's revenue was up 4.2% on a year-over-year basis. As a group, research analysts forecast that Viridian Therapeutics will post -4.03 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC boosted its holdings in Viridian Therapeutics by 411.8% during the third quarter. SG Americas Securities LLC now owns 62,118 shares of the company's stock worth $1,341,000 after purchasing an additional 49,981 shares during the last quarter. Simplify Asset Management Inc. bought a new stake in Viridian Therapeutics during the third quarter worth $1,079,000. Rice Hall James & Associates LLC raised its position in Viridian Therapeutics by 65.2% during the third quarter. Rice Hall James & Associates LLC now owns 851,663 shares of the company's stock worth $18,379,000 after acquiring an additional 336,040 shares in the last quarter. Farther Finance Advisors LLC raised its position in Viridian Therapeutics by 332.1% during the third quarter. Farther Finance Advisors LLC now owns 1,940 shares of the company's stock worth $42,000 after acquiring an additional 1,491 shares in the last quarter. Finally, Hudson Bay Capital Management LP bought a new stake in Viridian Therapeutics during the second quarter worth $1,671,000.

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.

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