Viridian Therapeutics: Buy Rating Affirmed on Promising Phase III Results and Strategic Growth Plans

Viridian Therapeutics (VRDN – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Rami Katkhuda from LifeSci Capital maintained a Buy rating on the stock and has a $46.00 price target.

Rami Katkhuda has given his Buy rating due to a combination of factors that highlight the promising potential of Viridian Therapeutics. The recent 52-week data from the Phase III THRIVE trial showed that a significant majority of patients maintained their proptosis response without additional treatment, indicating the durability and effectiveness of veligrotug in treating Thyroid Eye Disease (TED). This data suggests that veligrotug could offer a differentiated clinical profile compared to existing treatments, addressing a critical unmet need in the market.
Additionally, veligrotug’s recent FDA Breakthrough Therapy Designation underscores its potential to provide substantial improvements over current therapies, particularly with its rapid onset of response and significant benefits in chronic TED patients. Viridian’s strategic plans to submit a Biologics License Application and a Marketing Authorization Application in the coming years further support the company’s growth prospects. These developments, along with a robust cash position and a clear path to commercialization, contribute to the Buy rating for Viridian’s stock.

According to TipRanks, Katkhuda is a 4-star analyst with an average return of 13.3% and a 37.21% success rate. Katkhuda covers the Healthcare sector, focusing on stocks such as Mineralys Therapeutics, Inc., VYNE Therapeutics, and Dianthus Therapeutics.

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