Stifel analyst Alex Thompson raised the firm’s price target on Viridian Therapeutics to $40 from $33 and keeps a Buy rating on the shares. Stifel raised its probability of success for VRDN-001/003 to 80% from 66% following positive topline data from the Phase 3 THRIVE study and views efficacy data in line with Tepezza as meaningfully de-risking across both Viridian TED programs given the epitope overlap and PK-matching, the analyst tells investors in a research note. The firm continues to believe that Viridian is uniquely positioned as a highly de-risked Phase 3+ company in a validated commercial market and a potential M&A target.
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