Laura Chico, an analyst from Wedbush, maintained the Buy rating on Viridian Therapeutics (VRDN – Research Report). The associated price target remains the same with $41.00.
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Laura Chico’s rating is based on the promising long-term data from Viridian Therapeutics’ veligrotug treatment for thyroid eye disease. The data showed that 70% of patients maintained their proptosis response at week 52, which is notably higher than the 53% maintenance rate observed with Tepezza, a competing treatment. This consistent efficacy suggests a strong potential for veligrotug, particularly as it offers a shorter treatment duration compared to Tepezza.
Additionally, the company’s management has confirmed that the timeline for the Biologics License Application (BLA) submission for veligrotug is on track for the second half of 2025, with a commercial launch anticipated in 2026. The ongoing development of the VRDN-003 program, which shares similarities with veligrotug, further supports the positive outlook. With shares trading at approximately $13, Chico sees an attractive entry point for investors, reinforcing her Buy rating.
In another report released on May 8, H.C. Wainwright also reiterated a Buy rating on the stock with a $34.00 price target.