In a report released today, Gregory Renza from Truist Financial maintained a Buy rating on Viridian Therapeutics, with a price target of $41.00.
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Gregory Renza has given his Buy rating due to a combination of factors including recent developments in the competitive landscape of thyroid eye disease (TED) treatments. The discontinuation of argenx’s phase III studies for Vyvgart Hytrulo, due to limited efficacy, presents an opportunity for Viridian Therapeutics to capture a larger market share with its Veli’ and VRDN-003 SC programs.
Renza anticipates a mid-2026 launch for Veli’ with a potential worldwide peak revenue of approximately $700 million, and a 2027 launch for VRDN-003 SC with a peak revenue opportunity of around $730 million. The analyst also believes that the IGF-1Ra mechanism of action, which Viridian’s products utilize, is the most promising approach for TED treatment, further strengthened by the halting of argenx’s studies. Overall, the potential market share and upcoming milestones, such as the anticipated BLA approval for Veli’, support the Buy rating for Viridian Therapeutics.
Renza covers the Healthcare sector, focusing on stocks such as Fulcrum Therapeutics, Amgen, and Gilead Sciences. According to TipRanks, Renza has an average return of 23.3% and a 49.59% success rate on recommended stocks.
In another report released today, Wedbush also maintained a Buy rating on the stock with a $47.00 price target.