Viridian Therapeutics: Building a Best-in-Class Thyroid Disease Franchise with Multiple Clinical Catalysts Supporting a Buy Rating

H.C. Wainwright analyst Douglas Tsao reiterated a Buy rating on Viridian Therapeutics today and set a price target of $34.00.

Douglas Tsao has given his Buy rating due to a combination of factors that underscore Viridian Therapeutics’ strategic positioning and pipeline strength. He views the newly unveiled anti-TSHR monoclonal antibody as a differentiated, internally developed asset that could emerge as a best-in-class therapy for thyroid eye disease and Graves’ disease, benefiting from target specificity and a favorable half-life profile versus small-molecule competitors. By entering the increasingly active TSHR space with an IND planned for late 2026, Viridian is positioned to participate in what he sees as a next-generation treatment wave in markets that remain significantly underpenetrated. This program, layered on top of Viridian’s established expertise with IGF-1R antagonists, supports a broader franchise strategy in thyroid-related diseases.

Tsao also factors in the company’s advancing commercial readiness for veligrotug, which is approaching a potential mid-2026 launch following an anticipated PDUFA date of June 30, 2026. He notes that the commercial plan is focused yet scalable, with a relatively small targeted sales force and active medical affairs outreach already generating substantial physician engagement. Positive preliminary feedback from payers, combined with the opportunity to benefit from the reimbursement groundwork laid by Amgen’s existing coverage in the space, further underpins his confidence in the launch outlook. In addition, upcoming data from elegrobart in both active and chronic TED, along with progress in the FcRn portfolio (VRDN-008 and VRDN-006), provide a series of clinical catalysts that, in his view, offer multiple shots on goal and justify maintaining a Buy rating and a favorable risk‑reward profile.