Truist lowered the firm's price target on Viridian Therapeutics to $36 from $40 and keeps a Buy rating on the shares as part of a broader research note previewing Q1 earnings in Biotech. Reactivity to regulatory and policy shifts across the sector continues to ease, and the firm also notes a recent pickup in deal activity, which has the potential to build momentum through the remainder of the year into mid-terms, the analyst tells investors in a research note. For the company, the firm notes that while it has slightly tempered its ultimate expectations on Viridian's commercial opportunity in TED, with Veli' peaking at $630M in 2031, and Ele' peaking at $1.14B in 2035, the debate is likely to continue as investors and even docs balance the real-world utility of Viridian's reduced therapeutic burden value prop with Amgen's (AMGN) existing doc, patient, and payer relationships and existing commercial infrastructure and support, Truist added.
