Wells Fargo Upgrades Viridian Therapeutics to 'Buy', Sets $31 Target
Wells Fargo upgraded Viridian Therapeutics to 'buy' with a new $31 target, a 68.75% upside from the current price.
Key Points
- Wells Fargo upgraded Viridian Therapeutics, Inc. (VRDN) to a 'buy' rating with a $31 price target on June 29, 2026.
- Wells Fargo's $31 price target implies 68.75% upside from Viridian Therapeutics, Inc.'s ($VRDN) current $18.37 share price.
- Shares of Viridian traded near $18.79 on Wednesday; the company has a market cap of about $2.03 billion with no meaningful P/E as it isn't profitable.
- FMR LLC increased its stake in Viridian by 994,921 shares, now holding over 15.38 million shares worth about $300.8 million.
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Wells Fargo has upgraded Viridian Therapeutics, Inc. (NasdaqCM: VRDN) to a 'buy' rating, setting a new price target of $31. This change was announced on June 29, 2026, as analyst Derek Archila provided the updated outlook.
Wells Fargo vs. the S&P 500
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Other Institutional Activity in Viridian Therapeutics
FMR LLC grew its holdings in Viridian by 994,921 shares, ending with over 15.38 million shares valued at approximately $300.8 million. BlackRock, Inc. also increased its position by 1,399,552 shares, bringing its total to about 7.83 million shares worth $153.2 million. Bellevue Group AG made a significant increase, adding 2,367,617 shares to hold about 6.73 million shares valued at $131.6 million. State Street Corp raised its stake by 1,206,325 shares, now owning 4.67 million shares valued at $91.4 million. Meanwhile, Vanguard Capital Management LLC opened a new position with 4.17 million shares worth around $81.5 million.
Viridian Therapeutics, Inc. Stock Down 20.4%
Shares of Viridian Therapeutics were trading near $18.79 on Wednesday. The company has a market cap of approximately $2.03 billion. As Viridian is not currently profitable, it does not have a meaningful P/E ratio. The stock's 52-week range is between $13.18 and $34.29, with a 50-day moving average of $16.21 and a 200-day moving average of $24.11. Viridian maintains a strong balance sheet with a current ratio of 15.15 and a quick ratio of 14.71, alongside a debt-to-equity ratio of 8.39.
$VRDN price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
Viridian generated revenue of $70.9 million, with a remarkable revenue growth rate of 95.8%. However, the company reported a net margin of 0% and a return on equity of -58.1%, reflecting its ongoing investment in growth and development. The next earnings announcement is expected on August 6, 2026.
Insider Buying and Selling at Viridian Therapeutics, Inc.
On May 11, 2026, Fairmount Funds Management LLC acquired 1,176,470 shares at an average price of $17. On March 3, 2026, several insiders, including Chief Legal Officer Jennifer Tousignant and President and CEO Stephen Mahoney, sold shares at an average price of $30.19.
Analysts Set New Price Targets
On June 29, 2026, Wells Fargo upgraded Viridian to a 'buy' rating with a $31 price target. The following day, RBC Capital, Truist Securities, Wedbush, and Needham all maintained their 'buy' ratings with price targets of $35, $38, $43, and $34, respectively. The consensus among analysts remains strong, with a 'strong buy' recommendation and a mean target price of $35.50.
About Viridian Therapeutics
Viridian Therapeutics, Inc., headquartered in Waltham, Massachusetts, is a biotech company focused on developing treatments for serious and rare diseases. It specializes in IGF-1R therapies for thyroid eye disease and other conditions. The company was formerly known as Miragen Therapeutics and underwent a name change in January 2021. Led by CEO Stephen F. Mahoney, Viridian employs 252 people.
Bottom Line
Wells Fargo's upgrade and new price target highlight growing confidence in Viridian Therapeutics' potential. The stock has seen significant institutional activity, with major funds adjusting their stakes. Investors will keep an eye on the company's progress and upcoming earnings report, as the biotech sector remains a field of dynamic developments.
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