Serge Belanger, an analyst from Needham, maintained the Buy rating on Viridian Therapeutics. The associated price target remains the same with $34.00.
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Serge Belanger has given his Buy rating due to a combination of factors including the completion of enrollment for the Phase 3 trials of VRDN-003, which is a subcutaneous version of VRDN-001. This development is seen as a potential breakthrough for Thyroid Eye Disease (TED) treatment, with the results of these trials expected to significantly boost the company’s valuation and attractiveness as a merger or acquisition target.
Additionally, the anticipated Biologics License Application (BLA) filing for VRDN-001 in November and the potential for a mid-2026 commercial launch further support the positive outlook. The company’s ongoing FcRN program also shows promise, with VRDN-006 demonstrating favorable results in early trials. The substantial cash reserves reported by Viridian Therapeutics provide a solid financial foundation, ensuring the company can continue its development programs without immediate financial concerns.
In another report released today, Wedbush also maintained a Buy rating on the stock with a $40.00 price target.