Viridian Therapeutics price target lowered to $31 from $37 at Wedbush

Wedbush analyst Laura Chico lowered the firm’s price target on Viridian Therapeutics (VRDN) to $31 from $37 and keeps an Outperform rating on the shares. The firm says it has seen Viridian dodge multiple competitive threats over the years. However, the latest Amgen (AMGN) update on Tepezza’s on-body injectors bears monitoring. Amgen reported a 57% placebo-adjusted proptosis response with Tepezza OBI. This is consistent with prior Tepezza studies and while this is a Q2W administration, Wedbush does wonder about the impact on veligrotug uptake. For elegrobart, the key remains seeing positive REVEAL-2 data which is on track for Q2 2026.