Vir Biotechnology (VIR – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Joseph Stringer from Needham maintained a Buy rating on the stock and has a $19.00 price target.
Joseph Stringer has given his Buy rating due to a combination of factors including the promising developments in Vir Biotechnology’s oncology programs. The company is making significant strides with its T-cell Engager (TCE) programs, specifically with the upcoming data releases for VIR-5818 and VIR-5500, which target HER2+ and PSMA, respectively.
Furthermore, the anticipated initiation of the Phase 3 HDV trial and the Phase 1 trial for the EGFR-targeting VIR-5525 in the first half of 2025, along with the Phase 2 HBV data expected in the second quarter of 2025, are seen as pivotal milestones. These developments are projected to be key value drivers for the company in 2025, and the financial outlook suggests a cash runway extending into the second quarter of 2027, which supports the Buy rating.
In another report released today, Morgan Stanley also maintained a Buy rating on the stock with a $20.00 price target.
Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of VIR in relation to earlier this year.