Weiss Ratings Reaffirms "Sell (D-)" Rating for Viridian Therapeutics (NASDAQ:VRDN)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D-)" rating for Viridian Therapeutics (NASDAQ: VRDN), indicating continued skepticism about the company's stock performance.
• Several analysts have adjusted their price targets for VRDN, with Needham & Company lowering theirs from $36 to $34 while Jefferies set a new target of $44, reflecting differing outlooks on the stock.
• Viridian reported a loss of ($1.00) EPS for its latest quarter, meeting analyst expectations but showcasing ongoing financial challenges reflected in a negative return on equity of 78.95%.

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

A number of other equities research analysts have also weighed in on VRDN. Needham & Company LLC cut their price objective on Viridian Therapeutics from $36.00 to $34.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Wells Fargo & Company dropped their price target on Viridian Therapeutics from $27.00 to $26.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 7th. Jefferies Financial Group assumed coverage on Viridian Therapeutics in a research report on Monday, August 25th. They set a "buy" rating and a $44.00 price target on the stock. Oppenheimer lifted their price objective on Viridian Therapeutics from $28.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Finally, The Goldman Sachs Group lifted their price objective on Viridian Therapeutics from $27.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $34.88.

Viridian Therapeutics Trading Up 1.7%

Shares of VRDN stock traded up $0.36 during trading hours on Wednesday, reaching $21.36. The company's stock had a trading volume of 922,104 shares, compared to its average volume of 873,038. The stock has a market capitalization of $1.74 billion, a P/E ratio of -5.58 and a beta of 0.49. Viridian Therapeutics has a one year low of $9.90 and a one year high of $27.20. The firm's fifty day simple moving average is $18.92 and its 200 day simple moving average is $15.88. The company has a current ratio of 11.01, a quick ratio of 11.01 and a debt-to-equity ratio of 0.04.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($1.00) earnings per share for the quarter, hitting analysts' consensus estimates of ($1.00). The firm had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.05 million. Viridian Therapeutics had a negative return on equity of 78.95% and a negative net margin of 112,806.88%.The business's quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the company earned ($0.81) EPS. Equities research analysts expect 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 business. Amalgamated Bank increased its position in Viridian Therapeutics by 49.7% during the first quarter. Amalgamated Bank now owns 2,531 shares of the company's stock valued at $34,000 after acquiring an additional 840 shares during the last quarter. GAMMA Investing LLC increased its position in Viridian Therapeutics by 3,892.9% during the first quarter. GAMMA Investing LLC now owns 8,425 shares of the company's stock valued at $114,000 after acquiring an additional 8,214 shares during the last quarter. Sei Investments Co. purchased a new stake in Viridian Therapeutics during the second quarter valued at $147,000. Y Intercept Hong Kong Ltd purchased a new stake in Viridian Therapeutics during the second quarter valued at $170,000. Finally, Creative Planning purchased a new stake in Viridian Therapeutics during the second quarter valued at $179,000.

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.

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