H.C. Wainwright lowered the firm’s price target on Vir Biotechnology (VIR) to $15 from $110 and keeps a Buy rating on the shares. The company’s updated 24-week off-treatment data from the Phase 2 program did not meet functional cure thresholds that would be needed to support a Phase 3 investment in the absence of a global partner in chronic hepatitis B virus, the analyst tells investors in a research note. The firm believes chronic hepatitis delta virus infection is now Vir’s clear lead value driver in hepatitis.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VIR:
- Vir Biotechnology Presents Promising Phase 2 Hepatitis B Data
- Vir Biotechnology reports data from MARCH Phase 2 clinical study
- Vir Biotechnology’s Earnings Call: Mixed Sentiment Amid Progress
- Vir Biotechnology: Strong Financials and Promising Pipeline Justify Buy Rating
- Vir Biotechnology: Strong Financial Health and Promising Clinical Progress Justify Buy Rating
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue