Truist lowered the company’s price target for Viridian Therapeutics (VRDN) to $36 from $40 and maintains a Buy rating on the stock as part of a broader research note previewing first-quarter earnings in biotech. Reactivity to regulatory and policy changes across the sector continues to decline, with the firm also seeing a recent rebound in transaction activity, which has the potential to build momentum for the remainder of the year in the medium term, the analyst tells investors in a research note. For the company, the firm notes that while it has slightly tempered its ultimate expectations for Viridian’s business opportunity at TED, with Veli’ peaking at $630 million in 2031, and Ele’ peaking at $1.14 billion in 2035, the debate is likely to continue as investors and even physicians balance the real-world utility of Viridian’s reduced therapeutic load value with that of Amgen (AMGN) existing relationships with physicians, patients and payers and existing infrastructure and business support, Truist added.
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