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Investing.com -- Vir Biotechnology (NASDAQ:VIR) stock surged 17% on Wednesday after BofA Securities upgraded the biotech company from Neutral to Buy with a price target of $14.00, up from $12.00.
The new price target suggests substantial upside potential from Tuesday’s closing price of $4.44. Analyst Geoff Meacham believes the market is underestimating the potential of Vir’s treatment for severe liver disease caused by hepatitis delta virus (HDV), which he projects could generate over $1 billion in unadjusted peak sales.
Despite falling 40% year-to-date, Meacham sees two key catalysts driving upside over the next 12 months. First, he considers spending on the pivotal ECLIPSE phase 3 trials justified given derisking data from last year, with potentially share-moving trial readouts expected in late 2026. Second, the analyst notes that minimal value is currently attributed to Vir’s T-cell engager (TCE) oncology programs despite initial proof-of-concept data.
Meacham highlighted that Vir’s masked TCEs, which limit off-target activity, may be differentiated from competitors on dosing frequency and efficacy in major cancer types including breast, prostate, and colorectal cancer.
The upgrade comes as Vir works to expand its pipeline beyond infectious diseases into oncology and hepatology, with investors now showing renewed interest in the company’s development programs.
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