Positive Outlook for Viridian Therapeutics: Buy Rating Affirmed on Promising Trial Results and Future Prospects

In a report released today, Serge Belanger from Needham maintained a Buy rating on Viridian Therapeutics (VRDN – Research Report), with a price target of $36.00.

Serge Belanger has given his Buy rating due to a combination of factors surrounding Viridian Therapeutics’ recent trial results and future prospects. The 52-week data from the phase 3 THRIVE trial demonstrated promising durability for veligrotug in treating active thyroid eye disease (TED), with a significant portion of patients maintaining their response over the period. This aligns with the durability observed in similar treatments, which is a positive indicator for the drug’s potential market acceptance.
Furthermore, the safety profile of veligrotug remained consistent, with most adverse events resolving by the end of the trial period. The anticipation of further data from ongoing trials and the company’s plans for regulatory submissions in the coming years add to the optimism. These elements collectively contribute to a positive outlook for Viridian Therapeutics, justifying the Buy rating.

In another report released today, Wedbush also maintained a Buy rating on the stock with a $41.00 price target.