Viridian Therapeutics initiated with a Buy at Goldman Sachs

Goldman Sachs analyst Richard Law initiated coverage of Viridian Therapeutics with a Buy rating and $23 price target. The company’s lead assets, VRDN-001 and VRDN-003, are anti-IGF-1R mAbs being developed in intravenous and subcutaneous forms for thyroid eye disease, the analyst tells investors in a research note. Although Tepezza is now an established standard of care, the new start nature of the thyroid eye disease market and strong enthusiasms from clinicians willing to prescribe subcutaneous over IV products will open the opportunity for VRDN-003 to compete well, the analyst tells investors in a research note.