Wedbush Lowers Viridian Therapeutics (NASDAQ:VRDN) Price Target to $31.00

Key Points

• Wedbush cut its price target on Viridian Therapeutics from $37 to $31 while keeping an "outperform" rating, implying roughly a 122% upside from the current share price.
• Analyst coverage is mixed but leans positive—13 analysts rate VRDN a Buy, one Hold and one Sell, with an average target of $37.57, and several firms (Needham, RBC, UBS) have recently adjusted targets or ratings.
• The company reported weak results, missing Q EPS and revenue estimates (EPS -$1.08 vs -$0.90; revenue $0.13M vs $15.75M); the stock trades around $13.96, with a market cap of $1.43B and a 12‑month range of $9.90–$34.29.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) had its target price reduced by analysts at Wedbush from $37.00 to $31.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Wedbush's price objective would indicate a potential upside of 122.06% from the company's current price.

Several other equities analysts have also issued reports on VRDN. Weiss Ratings reiterated a "sell (d-)" rating on shares of Viridian Therapeutics in a report on Wednesday, January 21st. Needham & Company LLC lowered their target price on shares of Viridian Therapeutics from $42.00 to $32.00 and set a "buy" rating for the company in a report on Monday, March 30th. UBS Group began coverage on Viridian Therapeutics in a research report on Wednesday, January 7th. They issued a "buy" rating and a $50.00 price target for the company. Wall Street Zen cut shares of Viridian Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, March 7th. Finally, Royal Bank Of Canada dropped their price target on shares of Viridian Therapeutics from $42.00 to $30.00 and set an "outperform" rating on the stock in a research note on Tuesday. Thirteen 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, the stock presently has an average rating of "Moderate Buy" and an average target price of $37.57.

Viridian Therapeutics Stock Performance

Shares of Viridian Therapeutics stock opened at $13.96 on Wednesday. The company has a current ratio of 12.65, a quick ratio of 12.65 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.43 billion, a P/E ratio of -4.24 and a beta of 1.16. The business has a fifty day simple moving average of $27.58 and a two-hundred day simple moving average of $27.82. Viridian Therapeutics has a 12 month low of $9.90 and a 12 month high of $34.29.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last released its earnings results on Thursday, February 26th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.90) by ($0.18). Viridian Therapeutics had a negative net margin of 483.57% and a negative return on equity of 83.25%. The business had revenue of $0.13 million for the quarter, compared to analysts' expectations of $15.75 million. On average, equities analysts forecast that Viridian Therapeutics will post -4.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Viridian Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in VRDN. Aster Capital Management DIFC Ltd purchased a new stake in shares of Viridian Therapeutics during the 3rd quarter valued at about $35,000. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Viridian Therapeutics during the 4th quarter valued at about $36,000. Farther Finance Advisors LLC increased its position in shares of Viridian Therapeutics by 332.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,940 shares of the company's stock valued at $42,000 after purchasing an additional 1,491 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Viridian Therapeutics by 947.7% during the 3rd quarter. Bessemer Group Inc. now owns 2,085 shares of the company's stock valued at $45,000 after purchasing an additional 1,886 shares during the last quarter. Finally, Larson Financial Group LLC purchased a new position in shares of Viridian Therapeutics during the 3rd quarter worth $52,000.

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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