Infectious Disease Player Vir Biotech Has Limited Near Term Upside, Analyst Downgrades
Portfolio Pulse from Vandana Singh
BofA Securities has downgraded Vir Biotechnology Inc (VIR) to Neutral from Buy with a price target of $14, down from $23. The downgrade is due to VIR's lackluster stock performance YTD, with a decline of 54%, primarily attributed to disappointing influenza A and HBV data. However, the analysts maintain a positive outlook on Vir's antibody platform and its long-term potential. They also mentioned Gilead Sciences Inc's (GILD) bulevirtide as a benchmark for VIR's Hepatitis D virus trial.
September 08, 2023 | 6:15 pm
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NEGATIVE IMPACT
Vir Biotechnology Inc has been downgraded by BofA Securities due to disappointing influenza A and HBV data. However, the analysts maintain a positive outlook on Vir's antibody platform and its long-term potential.
The downgrade by BofA Securities is likely to negatively impact VIR's stock price in the short term. However, the analysts' positive outlook on Vir's antibody platform could mitigate this impact in the long term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Gilead Sciences Inc's bulevirtide was mentioned as a benchmark for VIR's Hepatitis D virus trial.
The mention of Gilead Sciences Inc's bulevirtide as a benchmark for VIR's Hepatitis D virus trial is neutral for GILD's stock price. It neither indicates a positive nor a negative impact.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50