In a report released today, Douglas Tsao from H.C. Wainwright reiterated a Buy rating on Viridian Therapeutics (VRDN – Research Report), with a price target of $34.00.
Douglas Tsao has given his Buy rating due to a combination of factors that highlight Viridian Therapeutics’ promising position in the market. The company’s lead product, veligrotug, has shown significant potential in treating thyroid eye disease (TED), with Phase 3 study results demonstrating notable improvements in diplopia resolution compared to placebo. This positions veligrotug as a potentially transformative treatment in a market where Tepezza currently dominates, suggesting a strong opportunity for market share capture.
Additionally, Viridian’s strategic advancements in its FcRn portfolio, including the development of antibody fragments similar to market-leading Vyvgart, indicate potential for enhanced tissue penetration and efficacy. Despite the crowded FcRn market, Viridian’s innovative approach could differentiate its offerings. Financially, the company maintains a solid cash position, providing a runway into the second half of 2027, which supports its ongoing R&D investments and strategic initiatives. These factors collectively underpin Tsao’s confidence in Viridian’s growth prospects and justify the Buy rating.
In another report released yesterday, LifeSci Capital also maintained a Buy rating on the stock with a $46.00 price target.