In a report released on November 2, Roanna Ruiz from Leerink Partners maintained a Buy rating on Vir Biotechnology (VIR – Research Report), with a price target of $24.00.
Roanna Ruiz has given her Buy rating for Vir Biotechnology due to a combination of factors. Vir Biotechnology recently reported their third quarter results and provided updates on their infectious disease pipeline. The most compelling update was their clear intention to expand their strategic initiatives into autoimmune disease and immuno-oncology. While their infectious disease pipeline optionality is promising, the market is waiting for more validation data for their HBV & HDV programs, and more details about Vir’s strategic pivot into autoimmune/immuno-oncology.
Two late-breaking Phase 2 datasets for their HBV & HDV programs are expected to be presented at the AASLD meeting, and these could help re-position Vir Biotechnology’s story after their disappointing Phase 2 setback with VIR-2482 in flu. Additionally, Vir Biotechnology ended the third quarter with approximately $1.7 billion in cash/investments, ensuring that they have sufficient funding for their HBV & HDV programs through later stages of development. The company’s management also indicated that they could explore in-licensing of external assets or internal development to pursue new initiatives in autoimmune/immuno-oncology. Thus, considering these factors, Roanna Ruiz rates Vir Biotechnology with a Buy.
According to TipRanks, Ruiz is an analyst with an average return of -31.4% and a 21.28% success rate. Ruiz covers the Healthcare sector, focusing on stocks such as Cytokinetics, Lantheus, and Enanta Pharmaceuticals.
In another report released yesterday, Barclays also maintained a Buy rating on the stock with a $27.00 price target.
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Vir Biotechnology (VIR) Company Description:
Vir Biotechnology, Inc. engages in the provision of technologies to treat and prevent infectious diseases. Its technology platforms include antibody, T cell, innate immunity, and siRNA. The company was founded by Robert Taylor Nelsen, Klaus Frueh, Jay Parrish, Lawrence Corey, and Louis Picker in 2016 and is headquartered in San Francisco, CA.
Read More on VIR:
- Vir Biotechnology files automatic mixed securities shelf
- Vir Biotechnology reports Q3 EPS ($1.22), consensus ($1.21)
- Vir Biotechnology appoints Jennifer Towne, Ph.D., as Chief Scientific Officer
- Vir Biotechnology to Participate in the H.C. Wainwright 4th Annual Hepatitis B Virus (HBV) Conference
- Vir Biotechnology Announces Multiple Abstracts Highlighting New Chronic Hepatitis B and Hepatitis Delta Data Accepted for Presentation at AASLD’s The Liver Meeting® 2023
