B. Riley lowered the firm’s price target on Viridian Therapeutics (VRDN) to $19 from $22 and keeps a Neutral rating on the shares. Amgen’s (AMGN) softer Tepezza numbers suggest the thyroid eye disease market may be under $2B and possibly shrinking, as most prevalence-related demand has likely been met and new use will depend on ongoing incidence, the analyst tells investors in a research note. A successful outcome of the readout for VRDN-003 could unlock value for shareholders, the firm says.
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