In a report released today, Alec Stranahan from Bank of America Securities maintained a Buy rating on Vir Biotechnology, with a price target of $14.00.
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Alec Stranahan has given his Buy rating due to a combination of factors, including Vir Biotechnology’s strong performance in the hepatitis delta virus (HDV) space and its recent strategic partnership with Norgine Pharma. The deal includes notable financial milestones and royalty agreements, alongside Norgine contributing to clinical development costs. This partnership helps reduce the burden of development expenses while enabling Vir to focus on a US market launch.
Additionally, Vir’s HDV cocktail has demonstrated superior efficacy compared to the approved competitor, bulevirtide, in clinical trials. The ability to exceed established benchmarks positions Vir’s product as a strong alternative in addressing unmet medical needs. Stranahan also highlights the potential for significant future growth within Vir’s broader T-cell engager portfolio, with key data from upcoming programs expected to further define its competitive edge. Collectively, these factors support the Buy rating and the price objective of $14.
Stranahan covers the Healthcare sector, focusing on stocks such as Novavax, Agios Pharma, and Crispr Therapeutics AG. According to TipRanks, Stranahan has an average return of 3.9% and a 51.93% success rate on recommended stocks.
In another report released today, Needham also maintained a Buy rating on the stock with a $14.00 price target.