BTIG analyst Julian Harrison initiated coverage of Viridian Therapeutics with a Buy rating and $46 price target. The company is developing a potentially best-in-class IGF-1R targeted therapies for thyroid eye disease, the analyst tells investors in a research note. The firm says Viridian’s pipeline has been “carefully curated to deliver meaningful improvements” over what is currently the only anti-IGF-1R available to patients, Tepezza. It thinks splitting the thyroid eye disease market with current standard of care represents “compelling upside potential” for Viridian shares.
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