Atea Pharmaceuticals (AVIR)
NASDAQ:AVIR
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Atea Pharmaceuticals
(NASDAQ:AVIR)
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Rating:57Neutral
Price Target:
$6.00
▲(12.57% Upside)
Action:ReiteratedDate:03/07/26
The score is held back primarily by weak financial performance (no revenue since 2022, large ongoing losses, and sustained cash burn). Offsetting factors include strong technical momentum (despite overbought conditions) and a generally constructive earnings call focused on near-term Phase III milestones and a stated cash runway through 2027; valuation remains constrained by losses and lack of dividend support.
Positive Factors
Clinical efficacy (Phase II)
High Phase II cure rates and a demonstrated high barrier to resistance provide durable clinical differentiation versus incumbents. Strong efficacy reduces development risk for Phase III readouts and supports favorable uptake assumptions for payers and prescribers if replicated in pivotal trials.
Negative Factors
Sustained negative cash flow
Persistent multi-year negative operating and free cash flow signals ongoing reliance on external financing or dilution to fund R&D. Over the medium term this elevates execution and funding risk, particularly if clinical timelines slip or fundraising windows tighten.
Read all positive and negative factors
Positive Factors
Negative Factors
Clinical efficacy (Phase II)
High Phase II cure rates and a demonstrated high barrier to resistance provide durable clinical differentiation versus incumbents. Strong efficacy reduces development risk for Phase III readouts and supports favorable uptake assumptions for payers and prescribers if replicated in pivotal trials.
Read all positive factors
Atea Pharmaceuticals (AVIR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$432.62M
Dividend YieldN/A
Average Volume (3M)594.67K
Price to Earnings (P/E)―
Beta (1Y)0.51
Revenue GrowthN/A
EPS Growth14.33%
CountryUS
Employees56
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.57
Shares Outstanding79,672,080
10 Day Avg. Volume658,269
30 Day Avg. Volume594,672
Financial Highlights & Ratios
PEG Ratio0.61
Price to Book (P/B)1.06
Price to Sales (P/S)0.00
P/FCF Ratio-2.20
Enterprise Value/Market Cap0.78
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-56.64
Enterprise Value/Ebitda-1.91
Forecast
1Y Price Target
$8.00Price Target Upside50.09% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)-1.66
Revenue Forecast (FY)N/A
Atea Pharmaceuticals Business Overview & Revenue Model
Company Description
Atea Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, focused on discovering, developing, and commercializing antiviral therapeutics for patients suffering from viral infections. Its lead product candidate is AT-527, an antiviral...
How the Company Makes Money
Atea Pharmaceuticals generates revenue through partnerships, collaborations, and potential future sales of its antiviral therapeutic products. The company has entered into significant partnerships, such as its collaboration with Roche, to fund dev...
Atea Pharmaceuticals Earnings Call Summary
Earnings Call Date:Mar 05, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 13, 2026
Earnings Call Sentiment Positive
Overall the call conveyed substantial forward momentum: the HCV Phase III program is advancing to expected topline readouts this year, Phase II data show high efficacy (95% mITT, 98% per-protocol), a well-capitalized balance sheet ($301.8M) with runway through 2027, and a promising new HEV program (AT-587) moving into first-in-human studies. Notable risks include a growing HCV treatment gap, competitive/pricing pressures, regional regulatory endpoint differences, concentrated prescriber dynamics, and the early-stage nature of the HEV program; milestone and royalty obligations to Merck will affect post-launch economics. On balance, the positives—clinical progress, strong efficacy signals, commercial planning and financial resources—outweigh the risks communicated on the call.Positive Updates
Phase III HCV program on track with imminent topline readouts
Completed enrollment for the North American trial C-BEYOND (company reported completion in December) and expect topline results for C-BEYOND midyear and for global C-FORWARD by year-end; combined program expected to enroll >1,760 patients across both trials; studies are randomized 1:1 versus standard of care and powered 90% with a 5% non-inferiority margin.
Negative Updates
Growing HCV incidence and treatment gap
Reported ~160,000 new chronic HCV infections in the U.S. annually but only ~85,000 patients treated per year (only ~53% of newly reported infections treated), indicating a persistent treatment gap and public health challenge.
Read all updates
Q4-2025 Updates
Positive
Negative
Phase III HCV program on track with imminent topline readouts
Completed enrollment for the North American trial C-BEYOND (company reported completion in December) and expect topline results for C-BEYOND midyear and for global C-FORWARD by year-end; combined program expected to enroll >1,760 patients across both trials; studies are randomized 1:1 versus standard of care and powered 90% with a 5% non-inferiority margin.
Read all positive updates
Company Guidance
Atea’s guidance focused on 2026 as a pivotal year: top‑line Phase III readouts for C‑BEYOND are expected midyear and for C‑FORWARD by year‑end (both randomized 1:1 vs sofosbuvir/velpatasvir, primary endpoint SVR24), with the global program powered at 90% with a 5% non‑inferiority margin and expected ~95% mITT SVR (98% per‑protocol in Phase II); C‑BEYOND enrollment was completed in December (reported >880 patients) and C‑FORWARD enrollment is expected to finish midyear to bring the combined program to >1,760 patients across ~240 sites (~120 in North America and ~120 in 17 countries outside NA), with 8‑week BEM‑RZR dosing for non‑cirrhotics vs 12 weeks for standard of care (12 weeks for cirrhotics). Financially, Atea reported $301.8M in cash, cash equivalents and marketable securities as of 12/31/2025, a cash runway through 2027, and returned $25M in a 2025 share repurchase; commercial preparation includes a planned ~75‑person field force, targeting ~6,000 prescribers who write 80% of DAA scripts, and market research (IQVIA, 153 high prescribers) showing ~50% likely use. The company also guided expansion into HEV with AT‑587 (selected Jan 2026), IND/CTA‑enabling studies underway, first‑in‑human midyear 2026 with proof‑of‑concept by year‑end and potential Phase II/III in H2 2027, and an estimated HEV market opportunity of $750M–$1B.Atea Pharmaceuticals Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
24
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 351.37M |
| Gross Profit | -416.00K | -83.37M | -70.09M | -62.39M | 184.16M |
| EBITDA | -180.89M | -131.80M | -119.59M | -110.84M | 138.41M |
| Net Income | -158.35M | -168.38M | -135.96M | -115.91M | 121.19M |
Balance Sheet | |||||
| Total Assets | 315.22M | 464.67M | 594.97M | 666.71M | 772.89M |
| Cash, Cash Equivalents and Short-Term Investments | 301.83M | 454.72M | 578.11M | 646.71M | 764.38M |
| Total Debt | 843.00K | 1.64M | 2.40M | 3.12M | 197.00K |
| Total Liabilities | 39.78M | 25.80M | 39.78M | 26.14M | 62.81M |
| Stockholders Equity | 275.43M | 438.87M | 555.19M | 640.57M | 710.08M |
Cash Flow | |||||
| Free Cash Flow | -132.03M | -135.50M | -85.39M | -122.92M | -87.01M |
| Operating Cash Flow | -132.03M | -135.50M | -85.39M | -120.98M | -87.00M |
| Investing Cash Flow | 188.79M | 56.10M | 40.30M | -455.41M | -4.00K |
| Financing Cash Flow | -25.75M | 267.00K | 257.00K | 370.00K | 1.47M |
Atea Pharmaceuticals Technical Analysis
Neutral
5.33
Price Trends
4.70
Positive
3.97
Positive
3.65
Positive
Market Momentum
0.28
Positive
52.38
Neutral
24.15
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AVIR, the sentiment is Neutral. The current price of 5.33 is below the 20-day moving average (MA) of 5.59, above the 50-day MA of 4.70, and above the 200-day MA of 3.65, indicating a neutral trend. The MACD of 0.28 indicates Positive momentum. The RSI at 52.38 is Neutral, neither overbought nor oversold. The STOCH value of 24.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AVIR.
Atea Pharmaceuticals Risk Analysis
Atea Pharmaceuticals disclosed 83 risk factors in its most recent earnings report. Atea Pharmaceuticals reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Atea Pharmaceuticals Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
57 Neutral | $432.62M | -1.84 | -46.34% | ― | ― | 14.33% | |
55 Neutral | $234.55M | -3.25 | -22.37% | ― | 3.36% | 5.15% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $159.02M | -3.23 | -90.51% | ― | -17.87% | 14.42% | |
46 Neutral | $166.47M | -5.01 | -99.45% | ― | -11.99% | -42.04% | |
45 Neutral | $150.75M | ― | 304.91% | ― | 12.60% | 58.23% |
* Healthcare Sector Average
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.