Viridian Therapeutics (NASDAQ:VRDN) Given New $27.00 Price Target at HC Wainwright

Viridian Therapeutics (NASDAQ:VRDN) had its price objective dropped by equities researchers at HC Wainwright from $37.00 to $27.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 94.10% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. LADENBURG THALM/SH SH cut shares of Viridian Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $30.00 price objective on shares of Viridian Therapeutics in a report on Thursday. B. Riley cut shares of Viridian Therapeutics from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $25.00 to $20.00 in a report on Thursday. Oppenheimer dropped their price objective on Viridian Therapeutics from $36.00 to $31.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Wedbush increased their target price on Viridian Therapeutics from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Viridian Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $34.60.

Viridian Therapeutics Stock Down 6.6 %

Shares of Viridian Therapeutics stock traded down $0.99 on Thursday, reaching $13.91. 1,728,245 shares of the company were exchanged, compared to its average volume of 924,550. The company has a market capitalization of $887.74 million, a price-to-earnings ratio of -2.61 and a beta of 1.14. The company has a current ratio of 18.26, a quick ratio of 18.26 and a debt-to-equity ratio of 0.09. Viridian Therapeutics has a one year low of $10.93 and a one year high of $28.35. The company has a 50-day moving average of $16.46 and a 200 day moving average of $17.64.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.79) earnings per share for the quarter, topping the consensus estimate of ($1.07) by $0.28. The company had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.09 million. Viridian Therapeutics had a negative net margin of 75,711.48% and a negative return on equity of 121.80%. Viridian Therapeutics’s revenue for the quarter was down 26.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.61) EPS. On average, equities research analysts forecast that Viridian Therapeutics will post -4.39 earnings per share for the current year.

Hedge Funds Weigh In On Viridian Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Braidwell LP increased its stake in Viridian Therapeutics by 43.8% in the third quarter. Braidwell LP now owns 1,735,182 shares of the company’s stock valued at $26,618,000 after purchasing an additional 528,882 shares in the last quarter. Perceptive Advisors LLC boosted its holdings in Viridian Therapeutics by 71.1% in the fourth quarter. Perceptive Advisors LLC now owns 1,730,212 shares of the company’s stock worth $37,684,000 after acquiring an additional 719,007 shares in the last quarter. Vestal Point Capital LP acquired a new stake in Viridian Therapeutics in the 4th quarter valued at $21,780,000. RTW Investments LP bought a new stake in Viridian Therapeutics during the 4th quarter valued at $13,195,000. Finally, Eagle Asset Management Inc. raised its holdings in Viridian Therapeutics by 1.9% during the third quarter. Eagle Asset Management Inc. now owns 459,169 shares of the company’s stock worth $7,044,000 after buying an additional 8,731 shares during the last quarter.

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.