Buy Rating Affirmed for Viridian Therapeutics Amidst TED Treatment Market Potential

Analyst Laura Chico of Wedbush maintained a Buy rating on Viridian Therapeutics (VRDN – Research Report), retaining the price target of $40.00.

Laura Chico has given her Buy rating due to a combination of factors related to Viridian Therapeutics’ potential in the market for thyroid eye disease (TED) treatments. Chico recognizes the significance of the disease’s impact on patients and the importance of effective therapies. She sees the introduction of Tepezza, an anti-IGF-1R antibody, as a transformative step in TED treatment and acknowledges the growing landscape of similar therapies. Chico believes that Viridian’s VRDN-001 could play a crucial role in this evolving market, especially with pivotal data expected in the near future.
Chico’s optimistic outlook also stems from the potential for differentiation within the IGF-1R class of treatments, where she sees room for additional effective therapies. She anticipates a detailed discussion with a TED expert to further understand the deployment of current treatments and the opportunities for new ones. Chico thinks that the adoption of new therapeutic modalities and the establishment of appropriate endpoints for efficacy and safety will be critical for investors to watch. Her rating suggests confidence in Viridian Therapeutics’ strategy and future prospects within the TED therapeutic development landscape.

In another report released on March 21, Wells Fargo also maintained a Buy rating on the stock with a $37.00 price target.

Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of VRDN in relation to earlier this year.

TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.

Viridian Therapeutics (VRDN) Company Description:

Miragen Therapeutics, Inc. is a clinical stage biopharmaceutical company, which engages in the development of proprietary RNA-targeted therapeutics. Its product pipelines include MRG-106 that focuses on the treatment of blood cancer; and MRG-201 deals with the treatment of pathological fibrosis. The company was founded by William S. Marshall and Bruce L. Booth in February 2006 and is headquartered in Boulder, CO.