Needham analyst Serge Belanger has maintained their bullish stance on VRDN stock, giving a Buy rating today.
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Serge Belanger has given his Buy rating due to a combination of factors that highlight the promising position of Viridian Therapeutics in the market. The recent discontinuation of argenx SE’s Phase 3 trials for their TED treatment, along with similar setbacks for other competitors, underscores the effectiveness of IGF-1R inhibition, which is the mechanism of action for Viridian’s veligrotug and VRDN-003. This development significantly reduces competition and strengthens Viridian’s standing in the thyroid eye disease (TED) market.
Furthermore, upcoming catalysts such as the FDA’s decision on the Biologics License Application (BLA) for veligrotug, expected in late December or early January, could potentially lead to a Priority Review and a mid-2026 approval. The anticipation of these regulatory milestones, along with the forthcoming data readout from the REVEAL-1 study, adds to the positive outlook for Viridian’s stock, justifying the Buy rating.
In another report released today, Wedbush also maintained a Buy rating on the stock with a $47.00 price target.