Buy Rating on Viridian: Elegrobart’s Convenience Edge and Overdone Share Price Pullback in Thyroid Eye Disease

Leerink Partners analyst Thomas Smith has maintained their bullish stance on VRDN stock, giving a Buy rating today.

Thomas Smith has given his Buy rating due to a combination of factors related to Viridian’s lead asset, elegrobart, and the market context in thyroid eye disease. He sees the recent share price drop as excessive given that Amgen’s subcutaneous Tepezza, delivered via an on-body injector, requires more frequent administration and longer infusion times than Viridian’s planned autoinjector.

Smith emphasizes that elegrobart’s efficacy appears comparable while offering clearly superior convenience with every‑four‑ or every‑eight‑week dosing, which he believes will translate into meaningful real‑world adoption. He also notes that Amgen is already developing a second subcutaneous IGF‑1R antibody, suggesting their current SC Tepezza may not be the optimal long‑term contender, thereby reinforcing Viridian’s competitive positioning and supporting his positive outlook on the stock.