Truist Cuts PT on Viridian Therapeutics (VRDN) to $36 From $40

Viridian Therapeutics, Inc. (NASDAQ:VRDN) is one of the most oversold healthcare stocks to invest in. Truist cut the price target on Viridian Therapeutics, Inc. (NASDAQ:VRDN) to $36 from $40 on April 8 but maintained a Buy rating on the shares. The rating update came as part of a broader research note previewing fiscal Q1 earnings in Biotech, with the firm telling investors in the research note that reactivity to regulatory and policy shifts across the sector is continuing to ease. Truist also stated that it is seeing a recent pickup in deal activity, which holds the potential to build momentum through the remainder of the year into midterms.

For Viridian Therapeutics, Inc. (NASDAQ:VRDN), Truist noted that although it has slightly tempered its ultimate expectations on the company’s commercial opportunity in 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 docs balance the real-world utility of Viridian Therapeutics, Inc.’s (NASDAQ:VRDN) reduced therapeutic burden value prop with Amgen’s existing doc, patient, and payer relationships and existing commercial infrastructure and support.

Viridian Therapeutics, Inc. (NASDAQ:VRDN) is a biopharmaceutical company involved in the development of medicines for autoimmune and rare diseases. The company employs antibody discovery and protein engineering for the creation of new therapies, and is advancing late-stage IGF-1R therapies for thyroid eye disease (TED) while also developing a potential TSHR-targeted treatment for TED and Graves’ disease.

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