Viridian Therapeutics’ Veligrotug Shows Promising Durability and Safety in TED Treatment, Justifying Buy Rating

Leerink Partners analyst Thomas Smith has maintained their bullish stance on VRDN stock, giving a Buy rating on May 20.

Thomas Smith has given his Buy rating due to a combination of factors related to Viridian Therapeutics’ lead asset, veligrotug (veli), in treating thyroid eye disease (TED). The initial long-term durability data from the Phase 3 THRIVE study indicates that 70% of proptosis responders maintained their response at week 52, which is a favorable comparison to Amgen’s Tepezza. This suggests that veli’s durability is competitive, and when combined with its strong efficacy, favorable safety profile, and enhanced convenience, it is likely to drive uptake in both active and chronic TED.
Moreover, the safety profile of veli remained unchanged during the follow-up period, with most adverse events resolving by week 52. The methodology used in the THRIVE study aligns with that of Tepezza, providing a reliable comparison point. Viridian Therapeutics plans to present detailed data at upcoming medical conferences and aims to submit a Biologics License Application (BLA) for veli in the second half of 2025, with a potential U.S. launch in 2026. These factors collectively support the compelling profile of veli, justifying the Buy rating.

In another report released on May 20, BTIG also maintained a Buy rating on the stock with a $61.00 price target.

VRDN’s price has also changed moderately for the past six months – from $19.790 to $13.820, which is a -30.17% drop .