Analyst Rami Katkhuda of LifeSci Capital maintained a Buy rating on Viridian Therapeutics, retaining the price target of $46.00.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Rami Katkhuda has given his Buy rating due to a combination of factors that position Viridian Therapeutics favorably in the market. The company has secured a significant royalty financing agreement with DRI Healthcare Acquisition LP, providing up to $300 million in nondilutive capital. This includes $55 million upfront and $115 million tied to near-term milestones, which is expected to fully fund the anticipated commercial launches of their assets in Thyroid Eye Disease (TED). The structured royalty payments are advantageous, with no royalties owed on annual net sales exceeding $2 billion, indicating a potential for substantial revenue growth.
Additionally, Viridian has announced updated timelines for its TED treatments, with a Biologics License Application for veligrotug expected imminently and a potential mid-2026 commercial launch. The FDA has granted veligrotug Breakthrough Therapy Designation due to its rapid and robust response in both active and chronic TED patients. The pivotal topline data for VRDN-003 is expected in 2026, and the positive THRIVE results help mitigate risks associated with the REVEAL program. These developments highlight the clinical differentiation and market potential of Viridian’s treatments, supporting the Buy rating.
In another report released on October 17, Jefferies also maintained a Buy rating on the stock with a $44.00 price target.