Analyst Laura Chico of Wedbush maintained a Buy rating on Viridian Therapeutics (VRDN – Research Report), boosting the price target to $42.00.
Laura Chico has given her Buy rating due to a combination of factors regarding Viridian Therapeutics’ progress and potential in the market. The successful completion of the THRIVE study enrollment, which exceeded its target, alongside the anticipated top-line data in September 2024, is a significant milestone for the company. Furthermore, with the THRIVE-2 study on track for year-end 2024 and the initiation of the STRIVE study to expand the safety database, these developments reinforce the expectation of a Biologics License Application (BLA) submission by the second half of 2025.
The consistent alignment with projected timelines for the commercial launch of VRDN-001 in the second half of 2026 bolsters confidence in the company’s execution capabilities. Chico also notes the potential competitive edge in the treatment of Thyroid Eye Disease (TED), suggesting that if Viridian Therapeutics can match or exceed the efficacy of current treatments with fewer adverse effects, it could create a significant market opportunity. The adjustments to Viridian’s financial estimates, along with a raised target share price, reflect the anticipation of successful market entry and the potential to meet the unmet needs in TED therapy.
According to TipRanks, Chico is a 4-star analyst with an average return of 3.3% and a 47.21% success rate. Chico covers the Healthcare sector, focusing on stocks such as Viridian Therapeutics, Ultragenyx Pharmaceutical, and Pharvaris.
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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.
