William Blair analyst Lachlan Hanbury Brown has maintained their bullish stance on VRDN stock, giving a Buy rating today.
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Lachlan Hanbury Brown has given his Buy rating due to a combination of factors tied to the strong Phase III REVEAL-2 data for elegrobart in chronic TED. The trial showed that a short, self-administered subcutaneous regimen can deliver efficacy on par with existing IV therapies, with a favorable safety profile that aligns with expectations for the anti–IGF-1R class.
Lachlan Hanbury Brown’s rating is based on the view that these results materially improve elegrobart’s approvability and commercial positioning, supporting broad and convenient use that can lower patient burden. He also notes that REVEAL-2 has surpassed tempered investor expectations after REVEAL-1, driving renewed interest in the stock, with shares already reacting positively and key regulatory milestones for both elegrobart and veligrotug still on track.
In another report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $22.00 price target.