Viridian Therapeutics price target lowered to $38 from $42 at JMP Securities

JMP Securities lowered the firm’s price target on Viridian Therapeutics to $38 from $42 and keeps an Outperform rating on the shares. The firm anticipates key clinical catalysts in the next 12 months, notably the selection of a lead SC candidate by year-end 2023 and Phase 3 results for VRDN-001 in acute TED in mid-2024, the analyst tells investors in a research note. The company remains well capitalized to execute on these development programs, with pro forma cash of more than $485M, including end-Q3 cash of $313M, providing a cash runway into 2026, JMP says.