Jefferies analyst Clara Dong maintained a Buy rating on Viridian Therapeutics today and set a price target of $44.00.
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Clara Dong has given her Buy rating due to a combination of factors that highlight Viridian Therapeutics’ strong competitive position in the thyroid eye disease (TED) market. The recent mixed results from Roche’s Phase 3 trials for its IL-6 monoclonal antibody, Satralizumab, have underscored the superior efficacy of Viridian’s Veligrotug. In contrast to Roche’s underwhelming results, Veligrotug demonstrated a significantly higher placebo-adjusted proptosis response rate, positioning it as a leading therapy in the TED market.
Furthermore, Viridian’s strategic advancements towards commercialization, including the upcoming Biologics License Application (BLA) submission for Veligrotug and the promising outlook for its subcutaneous drug VRDN-003, reinforce its market potential. The convenience of subcutaneous administration and the potential for priority review further enhance VRDN’s competitive edge. These developments suggest that Viridian is well-positioned to capture significant market share, justifying the Buy rating.
Dong covers the Healthcare sector, focusing on stocks such as Aldeyra Therapeutics, Viridian Therapeutics, and Astria Therapeutics. According to TipRanks, Dong has an average return of -7.7% and a 33.33% success rate on recommended stocks.
In another report released today, Wedbush also maintained a Buy rating on the stock with a $40.00 price target.