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- Morgan Stanley upgraded COVID-19 drug developer Vir Biotechnology (NASDAQ:VIR) to Equal Weight from Underweight on Friday, citing multiple Phase 2 readouts this year across its pipeline for microbial diseases.
- The analyst Michael Ulz points out that the firm’s previous bearish view was based on concerns related to the long-term potential of the COVID-19 therapy and the company’s main value driver, sotrovimab, which Vir (VIR) markets with GSK (GSK).
- “However, in 2023, we expect the pipeline to come into focus with multiple Ph2 readouts across the infectious disease pipeline, including Flu (influenza) and hepatitis B (HBV),” Ulz wrote.
- While its difficult to predict the study outcomes for the candidates, the analyst points to the company’s success in developing antibodies against Ebola and COVID.
- Read: Seeking Alpha contributor Michele Pagliaro issuing a Buy rating on Vir (VIR), cited the company’s pipeline to predict a high growth set up for the future years.