Viridian Therapeutics (VRDN) Receives a Buy from Wedbush

In a report released today, Laura Chico from Wedbush maintained a Buy rating on Viridian Therapeutics (VRDNResearch Report), with a price target of $30.00. The company’s shares closed last Wednesday at $16.59.

According to TipRanks.com, Chico is a 3-star analyst with an average return of 4.4% and a 49.3% success rate. Chico covers the Healthcare sector, focusing on stocks such as Praxis Precision Medicines, Ultragenyx Pharmaceutical, and Apellis Pharmaceuticals.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Viridian Therapeutics with a $35.50 average price target, an 114.0% upside from current levels. In a report issued on October 12, Evercore ISI also initiated coverage with a Buy rating on the stock with a $40.00 price target.

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Based on Viridian Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.09 million and GAAP net loss of $17.96 million. In comparison, last year the company earned revenue of $168K and had a GAAP net loss of $6.44 million.

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Miragen Therapeutics, Inc. is a clinical stage biopharmaceutical company, which engages in the development of proprietary RNA-targeted therapeutics. Its product pipelines include MRG-106 that focuses on the treatment of blood cancer; and MRG-201 deals with the treatment of pathological fibrosis. The company was founded by William S. Marshall and Bruce L. Booth in February 2006 and is headquartered in Boulder, CO.