Vir Biotechnology price target raised to $17 from $13 at BofA

BofA analyst Alec Stranahan raised the firm’s price target on Vir Biotechnology (VIR) to $17 from $13 and keeps a Buy rating on the shares. Updated Phase 1b data for VIR5500 cleared the firm’s benchmarks for success on objective response rate and prostate specific antigen responses, says the analyst, who increased the firm’s view of probability of success to 25% from 18% and increased its peak market share assumption to 13% from 7%.