Analyst Patrick Trucchio of H.C. Wainwright reiterated a Buy rating on Vir Biotechnology (VIR – Research Report), retaining the price target of $110.00.
Patrick Trucchio has given his Buy rating due to a combination of factors that highlight Vir Biotechnology’s promising future. The company is entering 2025 with significant clinical progress, particularly in the fields of infectious diseases and oncology. Vir is set to begin a pivotal Phase 3 trial for chronic hepatitis delta virus in the first half of 2025, with its combination therapy showing strong potential in suppressing the virus. Additionally, Vir is preparing for a crucial data readout for a functional cure for hepatitis B, which could be a major milestone in its development efforts.
Vir’s oncology platform is also gaining momentum, with early data from its T-cell engager platform showing promising efficacy and safety. Financially, the company has managed its resources well, extending its cash runway into mid-2027 while reducing expenses significantly. With multiple catalysts on the horizon, including the initiation of the HDV Phase 3 trial and further oncology developments, Vir is well-positioned for long-term value creation. These strategic and financial strengths underpin the reiterated Buy rating and the $110 price target.
In another report released today, Barclays also maintained a Buy rating on the stock with a $31.00 price target.
Based on the recent corporate insider activity of 39 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.