Needham analyst Serge Belanger initiated coverage of Viridian Therapeutics (VRDN) with a Buy rating and $45 price target. VRDN-001, the company’s lead asset, has the potential to deliver more convenient dosing, faster onset, and improved efficacy vs. Horizon Therapeutics’ (HZNP) Tepezza, Belanger tells investors in a research note. The analyst thinks the key catalyst for Viridian in 2023 will be the readout in 2Q23 of the phase 4 trial evaluating Tepezza in chronic TED patients, as it could greatly expand the TED market opportunity.
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