Morgan Stanley analyst Michael Ulz upgraded Vir Biotechnology to Equal Weight from Underweight with a price target of $30, up from $18. The analyst expects the company’s pipeline to come into focus in 2023 with multiple Phase 2 readouts across the infectious disease pipeline, including influenza and hepatitis B. Flu remains an unmet need, says the analyst, who notes Vir has successfully developed antibodies for both Ebola and COVID. The firm upgraded Vir given the company’s $2.7B in cash and greater pipeline visibility in 2023.
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