Needham raised the firm’s price target on Vir Biotechnology (VIR) to $18 from $14 and keeps a Buy rating on the shares. Along with its better than expected Q4 results, the company announced updated Phase 1 dose-escalation data from the VIR-5500 program in mCRPC, which fits the firm’s best-case scenario of potentially best-in-class safety and efficacy, the analyst tells investors in a research note.
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