Why Wainwright Beefed Up Vir Biotech's Target Price
- H.C. Wainwright has raised the Vir Biotechnology Inc price target to $200 from $135, suggesting an upside of 330%. Analyst Patrick Trucchio reiterates a Buy rating on the stock.
- The analyst expects a "robust" COVID-19 antiviral market, with Vir as a leader.
- Recent updates suggest that Vir and its collaboration partner GlaxoSmithKline Plc are likely to maintain a top-tier COVID-19 antiviral franchise, led at first by sotrovimab, "for the foreseeable future," Trucchio tells investors.
- He believes that as investors better appreciate the potential for a robust prophylaxis mAb market, potentially more significant post-infection antiviral market as more SARS-CoV-2 variants emerge, and the differentiated approach by Vir and GSK, Vir shares "should increase substantially."
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.