BofA upgrades Vir Biotechnology to Buy on underappreciated HDV opportunity

As previously reported, BofA analyst Alec Stranahan upgraded Vir Biotechnology (VIR) to Buy from Neutral with a price target of $14, up from $12, arguing that the market is underestimating the potential for its asset for treatment of severe liver disease caused by hepatitis delta virus. There also seems to be minimal value attributed to T-cell engager oncology programs, despite initial proof-of-concept data, the analyst tells investors.