Leerink Partners analyst Thomas Smith maintained a Buy rating on Viridian Therapeutics on August 6 and set a price target of $50.00.
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Thomas Smith has given his Buy rating due to a combination of factors, including Viridian Therapeutics’ strong clinical progress and strategic developments. The company is on track with its timelines, notably planning to submit a biologics license application for Veli in the second half of 2025, potentially leading to a U.S. commercial launch in 2026. Additionally, the recent Breakthrough Therapy Designation for Veli highlights its promising efficacy in treating thyroid eye disease, as demonstrated by significant improvements in clinical trials.
Furthermore, Viridian’s positive long-term data from its Phase 3 trials and a favorable safety profile compared to competitors underscore its potential market differentiation. The company’s strategic partnership with Kissei Pharmaceutical for development and commercialization in Japan further validates its IGF-1R franchise and enhances its financial prospects. These factors collectively contribute to a positive outlook for Viridian’s stock, justifying the Buy rating.
In another report released yesterday, Oppenheimer also maintained a Buy rating on the stock with a $32.00 price target.
VRDN’s price has also changed slightly for the past six months – from $18.510 to $17.200, which is a -7.08% drop .