Viridian Therapeutics initiated with a Buy at TD Cowen

TD Cowen initiated coverage of Viridian Therapeutics (VRDN) with a Buy rating and no price target The company’s lead asset veligrotug is an anti-IGF-1R therapy in development for thyroid eye disease designed to reduce IV delivery burden, the analyst tells investors in a research note. The firm says the initial Phase III data in active TED patients were strong with the chronic data set for December. A subcutaneous program is also in Phase III development, adds RD, which believes the shares as undervalued for Viridian’s TED opportunity alone.