Nucor earnings beat by $0.08, revenue fell short of estimates
On Tuesday, Stifel analysts sustained their Buy rating on Viridian Therapeutics (NASDAQ:VRDN) with a steadfast price target of $41.00, following the company’s first quarter of 2025 update. According to InvestingPro data, the stock is currently trading near its Fair Value, with analysts setting targets ranging from $22 to $61. The company’s shares have experienced a significant 46% decline over the past six months, potentially presenting an interesting entry point for investors considering the strong analyst backing. The analysts highlighted Viridian’s progression towards becoming a commercial-stage entity, with the Veligrotug Biologics License Application (BLA) anticipated in the second half of 2025 after two successful Phase 3 studies for Thyroid Eye Disease (TED).
Viridian’s Veligrotug is poised to enter the TED market, which is currently dominated by Tepezza, offering a competitive edge with comparable or superior efficacy and fewer required doses—five compared to Tepezza’s eight. While the company maintains a strong liquidity position with a current ratio of 15.4x and more cash than debt, InvestingPro analysis indicates rapid cash burn rates that investors should monitor. Get access to 8 more exclusive ProTips and comprehensive financial metrics with an InvestingPro subscription. Additionally, Veligrotug is expected to cater to a wider patient demographic, potentially influenced by favorable insurance coverage. Stifel analysts also noted the potential market growth benefits for Viridian from Amgen (NASDAQ:AMGN)’s ongoing efforts to expand the TED market, including increasing prescriber reach, improving payer access, and pursuing international market growth.
Looking ahead, Viridian’s next-generation candidate, VRDN-003, which targets the same epitope with a YTE modification, is undergoing Phase 3 trials with results expected in the first half of 2026. This candidate’s subcutaneous autoinjector delivery method could capitalize on Veligrotug’s commercial infrastructure and further broaden the TED market.
Additionally, Viridian’s pipeline includes advancements in their FcRn portfolio. The first-in-human data for VRDN-006, an Fc-fragment, is projected to be available in the third quarter of 2025, with more preclinical data for VRDN-008, an extended half-life FcRn, anticipated within the same year. These developments reflect Viridian’s commitment to innovation and market expansion in the therapeutic space for TED. With a market capitalization of $1.03 billion and significant analyst coverage, detailed analysis of Viridian’s potential is available in the comprehensive InvestingPro Research Report, which provides deep-dive analysis of the company’s financial health and growth prospects.
In other recent news, Viridian Therapeutics reported a narrower-than-expected first-quarter loss, with earnings showing a loss of $0.87 per share, beating analyst estimates of a $0.98 loss per share. Revenue for the quarter was $70,000, surpassing expectations of $52,090. The company is advancing its lead candidate, veligrotug, with plans to submit a Biologics License Application in the second half of 2025 and a potential U.S. launch in 2026 if approved. Viridian is also progressing with VRDN-003 in phase 3 trials for thyroid eye disease, expecting topline data in the first half of 2026. Research and development expenses increased to $76.8 million in Q1, up from $40.9 million the previous year, as clinical trial activities intensified. The company ended the quarter with $636.6 million in cash and investments, which is expected to support operations into the second half of 2027. Additionally, Viridian appointed Jeff Ajer, former Chief Commercial Officer of BioMarin, to its Board of Directors in preparation for a potential commercial launch.
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