Jefferies says vaccine stocks are higher due to bird flu headlines and the potential downstream revenue implications as investors “hope” for the COVID-19 type of opportunity. The firm believes Arbutus Biopharma (ABUS) and Roivant Sciences (ROIV) could be potential beneficiaries, noting their underlying lipid nanoparticle technology was allegedly used by Pfizer (PFE) and Moderna (MRNA), which are being sued for patent infringement. Jefferies is “generally bullish” Arbutus and Roivant could obtain not only damages on historical COVID revenue from the cases but also a royalty on future sales, the analyst tells investors in a research note. The firm has a Buy rating on Arbutus with a $7 price target.
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