Viridian Therapeutics price target lowered to $31 from $36 at Oppenheimer

Oppenheimer analyst Leland Gershell lowered the firm’s price target on Viridian Therapeutics to $31 from $36 and keeps an Outperform rating on the shares. With VRDN-001’s THRIVE trial in active TED having completed enrollment in March, top-line data timing has narrowed to September. The firm anticipates the results to show efficacy at least on par with Tepezza’s yet with fewer and shorter infusions, and potentially more favorable safety. THRIVE-2, in the chronic setting, continues on track for a reveal toward year-end. While Oppenheimer reduced its price target following various revisions to its model, the firm likes the second half of2024 catalyst setup and stays bullish on Viridian.