Viridian Therapeutics (NASDAQ:VRDN) Stock Rating Lowered by LADENBURG THALM/SH SH

Viridian Therapeutics (NASDAQ:VRDN) was downgraded by research analysts at LADENBURG THALM/SH SH from a “buy” rating to a “neutral” rating in a research note issued on Thursday, Briefing.com reports.

Other equities analysts have also issued research reports about the company. HC Wainwright reissued a “buy” rating and set a $37.00 price target on shares of Viridian Therapeutics in a report on Thursday, February 29th. Wedbush increased their price target on Viridian Therapeutics from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. B. Riley cut shares of Viridian Therapeutics from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $25.00 to $20.00 in a research note on Thursday. Finally, Needham & Company LLC restated a “buy” rating and issued a $30.00 target price on shares of Viridian Therapeutics in a research note on Thursday. Two 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.10.

Viridian Therapeutics Price Performance

Shares of NASDAQ VRDN opened at $14.90 on Thursday. The stock has a market cap of $950.92 million, a P/E ratio of -2.80 and a beta of 1.14. Viridian Therapeutics has a twelve month low of $10.93 and a twelve month high of $28.35. The stock has a 50 day moving average of $16.46 and a two-hundred day moving average of $17.64. 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 (NASDAQ:VRDN) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.79) EPS for the quarter, beating the consensus estimate of ($1.07) by $0.28. Viridian Therapeutics had a negative net margin of 75,711.48% and a negative return on equity of 121.80%. The firm had revenue of $0.07 million during the quarter, compared to the consensus estimate of $0.09 million. During the same quarter in the prior year, the firm earned ($1.61) EPS. Viridian Therapeutics’s revenue for the quarter was down 26.5% on a year-over-year basis. On average, 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 large investors have recently made changes to their positions in VRDN. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Viridian Therapeutics by 122.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,369 shares of the company’s stock worth $182,000 after purchasing an additional 4,610 shares during the last quarter. Arizona State Retirement System purchased a new position in shares of Viridian Therapeutics in the fourth quarter valued at $208,000. Principal Financial Group Inc. raised its stake in shares of Viridian Therapeutics by 9.7% during the 1st quarter. Principal Financial Group Inc. now owns 11,915 shares of the company’s stock worth $209,000 after buying an additional 1,058 shares during the last quarter. Raymond James & Associates boosted its position in shares of Viridian Therapeutics by 71.1% in the 3rd quarter. Raymond James & Associates now owns 15,164 shares of the company’s stock worth $233,000 after buying an additional 6,303 shares in the last quarter. Finally, Dark Forest Capital Management LP purchased a new stake in shares of Viridian Therapeutics in the 3rd quarter worth about $264,000.

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.