TD Cowen analyst Phil Nadeau has maintained their bullish stance on VIR stock, giving a Buy rating on October 28.
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Phil Nadeau has given his Buy rating due to a combination of factors, including Vir Biotechnology’s strong financial position and promising clinical developments. The company ended the third quarter with a substantial cash reserve of $810.7 million, which is projected to support operations until mid-2027. This financial stability allows Vir to continue advancing its clinical programs without immediate funding concerns.
Additionally, the initial results from Vir’s T-cell engager programs, particularly VIR-5500 in metastatic castration-resistant prostate cancer (mCRPC), have shown encouraging anti-tumor activity and a favorable safety profile. The ongoing development of VIR-5500, along with the progress in the ECLIPSE HDV pivotal program, positions the company well for future growth. These clinical advancements, coupled with the company’s robust cash position, underpin Nadeau’s optimistic outlook and Buy rating for Vir Biotechnology.
In another report released on October 28, H.C. Wainwright also reiterated a Buy rating on the stock with a $15.00 price target.