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Evercore ISI Adjusts Viridian Therapeutics, Inc. (VRDN) Outlook in Pre-Earnings Preview

We recently compiled a list of the 10 Best Beaten Down Stocks to Invest in According to Analysts. Viridian Therapeutics, Inc. is among the best 52-week low stocks on our list.

TheFly reported on April 13 that Evercore ISI reduced its price target on VRDN to $24 from $32 while maintaining an Outperform rating ahead of the company’s first-quarter earnings update. The adjustment reflects a revised outlook incorporated into the firm’s preview of upcoming results.

In other news, it was reported earlier on April 6 that Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) declined sharply after Amgen reported positive Phase 3 results for Tepezza delivered via subcutaneous injection using an on-body device in patients with moderate to severe active thyroid eye disease. The results included achievement of both primary and secondary endpoints, increasing competitive pressure in the same treatment area where Viridian is also developing a therapy for thyroid eye disease.

Following the announcement, VRDN’s stock dropped approximately 19%, or $3.61, trading around $15.23 in morning activity. The move reflected investor concern that the new clinical data from a competing program could impact Viridian’s future commercial positioning and market expectations within the TED treatment landscape, particularly as both companies target overlapping patient populations and indications.

Viridian Therapeutics, Inc. (NASDAQ:VRDN) is a clinical-stage biopharmaceutical company focused on developing antibody-based therapies for serious rare diseases. It is primarily targeting thyroid eye disease with innovative biologic treatments designed to improve patient outcomes and reduce disease burden.

While we acknowledge the risk and potential of VRDN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than VRDN and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Best Healthcare Stocks to Buy and Hold for 3 Years and 10 Best Beaten Down Stocks to Invest in According to Analysts.

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Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

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Put another way, that’s roughly equal to:

  • 175 Teslas
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  • 140 Metas
  • 84 Googles
  • 65 Microsofts
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  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
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