In a report released today, Serge Belanger from Needham maintained a Buy rating on Viridian Therapeutics (VRDN – Research Report), with a price target of $36.00.
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Serge Belanger’s rating is based on several strategic developments and financial projections for Viridian Therapeutics. The company has outlined a clear timeline for its key initiatives, including the anticipated BLA and MAA filings for veligrotug in the latter half of 2025 and early 2026, respectively. These filings are crucial for the treatment of active and chronic TED, indicating potential growth and advancement in their therapeutic offerings.
Furthermore, Viridian’s financial position is robust, with a reported cash reserve of approximately $637 million at the end of the first quarter of 2025. This financial strength is expected to support the company’s operations until the second half of 2027, providing a stable foundation for its ongoing and future projects. Despite a slight adjustment in the price target due to increased operational expenses, the overall outlook remains positive, justifying the Buy rating.
In another report released today, Citizens JMP also maintained a Buy rating on the stock with a $38.00 price target.