Analyst Douglas Tsao from H.C. Wainwright reiterated a Buy rating on Viridian Therapeutics and keeping the price target at $34.00.
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Douglas Tsao has given his Buy rating due to a combination of factors that highlight the potential of Viridian Therapeutics. The company is on track to submit a Biologics License Application (BLA) for veligrotug, with expectations of a priority review and a robust launch in the U.S. by the second quarter of 2026. Veligrotug is anticipated to capture a significant portion of the chronic thyroid eye disease (TED) market due to its differentiated clinical characteristics and competitive advantages over existing treatments like Tepezza, which lacks explicit labeling for certain efficacy metrics.
Additionally, Viridian’s strategic partnership with Kissei Pharmaceutical enhances its market presence in Japan, where there is a substantial unmet need in the TED market. The upcoming topline data for VRDN-003, expected in the first half of 2026, could further strengthen Viridian’s position by addressing patient accessibility issues through a subcutaneous treatment option. Moreover, the company’s advancements in second-generation FcRn technology, with promising candidates like VRDN-006 and VRDN-008, position it well to tap into a significant market opportunity. These developments collectively underpin Tsao’s optimistic outlook for Viridian Therapeutics.