Viridian Therapeutics initiated with an Outperform at Credit Suisse

Credit Suisse analyst Tiago Fauth initiated coverage of Viridian Therapeutics with an Outperform rating and $51 price target. The analyst believes the company’s current market cap undervalues its overall long-term outlook. VRDN-001 is Viridian’s lead insulin-like growth factor 1 inhibitor for the treatment of thyroid eye disease and may offer a differentiated/shorter treatment regimen, which is a meaningful improvement given a relatively burdensome standard of care, Fauth tells investors in a research note.