Viridian Therapeutics price target raised to $44 from $35 at RBC Capital

RBC Capital analyst Gregory Renza raised the firm’s price target on Viridian Therapeutics (VRDN) to $44 from $35 and keeps an Outperform rating on the shares. This week’s pivotal phase THRIVE topline data for veligrotug in active TED – thyroid eye disease – came in as a best-case scenario, with all primary and secondary endpoints met, the analyst tells investors in a research note. Veli was able to demonstrate equivalence to Amgen’s (AMGN) Tepezza, with a 70% absolute responder rate supported by clinical and statistical significance across all secondaries, including diplopia and the clinical activity score, RBC added.