Analyst Serge Belanger from Needham maintained a Buy rating on Viridian Therapeutics and decreased the price target to $34.00 from $36.00.
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Serge Belanger has given his Buy rating due to a combination of factors that highlight Viridian Therapeutics’ promising outlook. The company has recently shared positive 52-week data from its phase 3 THRIVE trials for veligrotug, which is a significant step forward. Additionally, the announcement of a licensing agreement with Kissei Pharmaceuticals in Japan for veligrotug and VRDN-003 further strengthens their strategic position.
Viridian Therapeutics is gearing up for the Biologics License Application (BLA) and Marketing Authorization Application (MAA) filings for veligrotug in the second half of 2025 and the first half of 2026, respectively. With the breakthrough designation already secured, the company is on track for a U.S. product launch in 2026, assuming a priority review. Financially, the company ended the second quarter of 2025 with approximately $563 million in cash, providing a financial runway into the second half of 2027. These factors collectively support the Buy rating, despite a slight adjustment in the price target to $34 due to increased operational expenses.