Needham analyst Serge Belanger has maintained their bullish stance on VRDN stock, giving a Buy rating today.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Serge Belanger has given his Buy rating due to a combination of factors related to the competitive landscape and potential market positioning of Viridian Therapeutics. The recent trial results for Roche’s satralizumab, which failed to meet its primary endpoint in treating thyroid eye disease (TED), have diminished its prospects as a competitor in this space. This outcome highlights the challenges faced by other TED treatments and underscores the potential for Viridian’s VRDN-003 to capture significant market share.
Additionally, the data from Roche’s trials reinforce the effectiveness of IGF-1R inhibition, the mechanism of action for Viridian’s therapies, as a promising approach to treating TED. With VRDN-003 advancing in its clinical trials and the path to regulatory approval appearing more favorable, Viridian is well-positioned to introduce a long-acting subcutaneous treatment for TED. These developments contribute to a positive outlook for the company’s stock, justifying the Buy rating.
Belanger covers the Healthcare sector, focusing on stocks such as Viridian Therapeutics, Omeros, and MoonLake Immunotherapeutics. According to TipRanks, Belanger has an average return of 6.4% and a 45.65% success rate on recommended stocks.
In another report released today, Stifel Nicolaus also reiterated a Buy rating on the stock with a $41.00 price target.