Truist cuts Viridian PT after eye disease trial data

Amgen

08/04/2026 15:00

** Truist Securities cuts price target on Viridian Therapeutics VRDN.O to $36 from $40, maintains "buy" rating

** Ahead of the biopharmaceutical firm's Q1 results, Truist refreshes its view on Viridian's commercial opportunity in thyroid eye disease

** Review follows data from Amgen's AMGN.O Tepezza, already cleared as an intravenous injection and now in late-stage trials for subcutaneous application, setting a higher efficacy bar for treating thyroid eye disease (TED)

** Truist slightly trims long-term TED assumptions, seeing VRDN's veligrotug peaking at about $630 million in 2031 and elegrobart at roughly $1.14 billion in 2035, still within Street ranges

** Expects investor and physician debate to persist as Viridian's reduced treatment burden is weighed against Amgen's established doctor, patient and payer relationships and commercial infrastructure; adding that "VRDN shares are attractive at these levels"

** Seventeen of 19 brokerages rate the stock "buy" or higher, 2 "hold"; their median PT is $32, according to data compiled by LSEG

** As of last close, stock down 55.1% YTD

 (Reporting by Siddhi Mahatole)

 ((siddhi.mahatole@thomsonreuters.com))