Viridian Therapeutics price target lowered to $29 from $45 at Jefferies

Jefferies analyst Clara Dong lowered the firm’s price target on Viridian Therapeutics (VRDN) to $29 from $45 and keeps a Buy rating on the shares after the company announced topline data from the elegrobart REVEAL-1 Phase 3 trial in patients with active thyroid eye disease. While stating that the “data is disappointing, no sugarcoating that,” the firm thinks subcutaneous elegrobart is “approvable” in active TED and “can play a role in TED treatment.”