B. Riley lowered the firm’s price target on Viridian Therapeutics to $29 from $46 and keeps a Buy rating on the shares. The analyst incorporated the company’s recent equity offering into the model as well as a reduced forecast for peak U.S. sales of Viridian’s thyroid eye disease assets due to flattening Tepezza sales. However, the firm believes Viridian’s subcutaneous results could act as a near-term catalyst for the shares.
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