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HC Wainwright Says This Stock Is Well Capitalized For Value Realization Of Pipeline, Despite COVID-19 Uncertainty

By Vandana Singh
  • Given the uncertainty, HC Wainwright moderated its COVID-19 franchise estimates, the primary driver of estimate reductions, and price target reduction to $125 (from $200) on Vir Biotechnology Inc (NASDAQ:VIR). The analyst maintained a Buy rating on VIR shares.
  • The analyst continues to view Vir's platform, validated with successful antiviral therapies against Ebola and COVID-19, and pipeline, which includes compounds in development for chronic hepatitis B virus (CHB), human immunodeficiency virus (HIV), and influenza (flu), as among the most attractive in the entire biotech sector.
  • Furthermore, the firm believes that with cash and investments of $2.5 billion, Vir is well-capitalized to conduct the studies necessary to achieve the full value of its pipeline that e could generate peak annual revenues of at least $10 billion. 
  • Related: Why Did FDA Pull Authorization For GSK-Vir's COVID-19 Therapy? Read Here.
  • HC Wainwright has confidence in Vir and GlaxoSmithKline Plc's (NYSE:GSK) COVID-19 franchise and believes that the collaboration is capable of adjusting to the emerging variants of SARS-CoV-2. 
  • The updated estimates include a risk adjustment (25%) to capture the potential for Xuvudy to be re-authorized without caveats though recognizing the possibility that the program may not be able to move forward in its current form.
  • Price Action: VIR shares are up 3.67% at $19.78 during the market session on the last check Thursday.
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Dive Deeper:
1 Biotech Stock to Buy and 1 to Sell
Increasing investments in R&D to develop new therapies, rising cases of chronic diseases, and an aging population should drive the…
Raymond James Sees 'Pipeline Key Success Factor' For This MedTech Stock
Raymond James has reiterated Outperform rating on LumiraDx Limited's (NASDAQ:LMDX) shares after 1Q revenue beat but lower than expected margins that ultimately do very little…
7 Walt Disney Analysts React To Q2 Earnings Miss, Subscriber Beat, Ongoing Asia Weakness
Walt Disney Co (NYSE: DIS) shares traded lower by 3.7% on Thursday after the company reported first-quarter earnings and said…
Raymond James Says 'Supply Chain Challenges Made Q1 Messy' For This Medtech Stock
ICU Medical Inc (NASDAQ:ICUI) reported Q1 sales of $543.1 million vs. Raymond James' estimate of $530 million.  Core ICU beat by $7 million,…
One subscription that gives you access to news from hundreds of sites
Wolverine Worldwide Q1 Earnings Beat Street View; Reiterates FY22 Forecast
Wolverine World Wide Inc (NYSE:WWW) reported first-quarter FY22 sales growth of 20.4% year-on-year to $614.8 million, beating the consensus of $603.12 million. Revenue…
Teck Resources: A Metals & Mining Stock That Deserves a Place in Your Portfolio
Shares of Teck Resources (TECK) have soared more than 27% in price year-to-date on rising metal prices. With commodity prices…
Get all your news in one place