Leerink Partners analyst Thomas Smith has maintained their bullish stance on VRDN stock, giving a Buy rating on July 30.
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Thomas Smith has given his Buy rating due to a combination of factors, primarily revolving around Viridian Therapeutics’ recent collaboration with Kissei Pharmaceutical. This partnership not only provides a significant upfront payment and potential milestone revenues but also offers external validation for Viridian’s IGF-1R franchise, particularly in the Japanese market.
Moreover, the efficacy and safety profile of Viridian’s lead product, veligrotug, demonstrated in clinical trials, positions it favorably against existing treatments for thyroid eye disease. The Breakthrough Therapy Designation granted by the FDA further underscores its potential. The strategic deal with Kissei enhances confidence in Viridian’s future prospects, especially with the anticipated BLA submission and potential U.S. launch in the coming years.
In another report released on July 30, Needham also maintained a Buy rating on the stock with a $36.00 price target.
VRDN’s price has also changed moderately for the past six months – from $20.080 to $17.800, which is a -11.35% drop .