William Blair initiated coverage of Viridian Therapeutics (VRDN) with an Outperform rating and $47 fair value estimate. The firm believes the company’s anti-IGF-1R franchise represents a “meaningful advance” compared to Tepezza for the treatment of thyroid eye disease. While growth in the U.S. TED market has plateaued in recent years, new therapies have potential to grow the market, the analyst tells investors in a research note. Blair believes Viridian’s veligrotug has important advantages over Tepezza that could drive market share capture.
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