Viridian Therapeutics, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Serge Belanger from Needham maintained a Buy rating on the stock and has a $36.00 price target.
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Serge Belanger has given his Buy rating due to a combination of factors that highlight the promising future of Viridian Therapeutics. The recent collaboration and license agreement with Kissei Pharmaceutical for the Japanese rights to veligrotug and VRDN-003 is a significant milestone. This agreement not only brings an immediate $70 million cash infusion but also opens the door to potential milestone payments up to $315 million, along with substantial sales royalties.
The financial boost from this deal enhances VRDN’s cash reserves, extending its financial runway into late 2027. Additionally, the upcoming catalysts, such as the BLA submission for veligrotug and the phase 3 trial results for VRDN-003, are expected to drive further value. The agreement underscores the potential of VRDN’s thyroid eye disease franchise and positions the company as an attractive candidate for future global licensing deals or acquisition opportunities.