Viridian Therapeutics price target raised to $47 from $44 at RBC Capital

RBC Capital analyst Gregory Renza raised the firm’s price target on Viridian Therapeutics (VRDN) to $47 from $44 and keeps an Outperform rating on the shares. The company’s positive THRIVE-2 topline for veligrotug – Veli – in chronic TED comes as a second big win for the program and could be the game changer on differentiation that Viridian bulls have been waiting for, the analyst tells investors in a research note. Importantly, Veli’s 56% diplopia response and complete resolution in 32% of patients marks the first pivotal to demonstrate statistically significant diplopia improvement and serves as a key differentiator to Amgen’s (AMGN) Tepezza, the firm added.