H.C. Wainwright analyst Patrick Trucchio keeps a Buy rating on Vir Biotechnology with a $100 price target after the company announced that the Phase 2 trial evaluating VIR-2482 for the prevention of symptomatic influenza A illness did not meet primary or secondary endpoints. Although the outcome is disappointing, the selloff of around 45% based on the outcome for VIR-2482, which H.C. Wainwright values at $6 per share, is overdone and presents an attractive buying opportunity ahead of further updates on multiple Phase 2 trials in Vir’s chronic hepatitis B virus program, the analyst tells investors in a research note.
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