Vir Biotechnology

VIR · NASDAQ

$10.74+$0.53 (+5.19%)TodayMarket closed · Oct 20, 7:33 PM ET

Prev close $10.21

VIR analyst rating

BuyConsensus of 6 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy6
Hold0
Underperform0
Sell0

12-month price target · 10 analysts

Average $21.19 (+97.3% upside)

Low: $15.15
Now: $10.74
High: $31.50

Upgrades and downgrades

The latest rating actions, newest first

VIR analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
HC Wainwright & Co.	Oct 7, 2026	Maintains	Buy	$20.00 → $22.00	33%
Morgan Stanley	Jun 11, 2026	Maintains	Overweight	$23.00 → $27.00	34%
Leerink Partners	Jun 3, 2026	Maintains	Outperform	$20.00 → $21.00	35%
HC Wainwright & Co.	Mar 4, 2026	Maintains	Buy	$15.00 → $20.00	33%
Barclays	Feb 25, 2026	Maintains	Overweight	$26.00 → $30.00	46%
Morgan Stanley	Feb 24, 2026	Maintains	Overweight	$20.00 → $24.00	34%
Evercore ISI Group	Feb 24, 2026	Maintains	Outperform	$12.00 → $18.00	51%
Needham	Feb 24, 2026	Maintains	Buy	$14.00 → $18.00	47%
Needham	Feb 9, 2026	Maintains	Buy	$14.00	47%
HC Wainwright & Co.	Dec 30, 2025	Maintains	Buy	$15.00	33%

The case for and against

Updated Oct 16, 2026

Bull case

Vir Biotechnology is supported by a two-pronged growth thesis: a potentially first-mover HDV opportunity and a differentiated oncology platform, PRO-XTEN, whose dual-masking approach has been de-risked by VIR-5500 data showing 58 patients treated with no dose-limiting toxicities, no maximum tolerated dose, and strong activity at higher doses. The HDV program is bolstered by SOLSTICE Week 96 results showing 88% HDV RNA target-not-detected and roughly 90% with HBsAg below 10 IU/mL, while the U.S. market remains defined by roughly 65,000 actively viremic patients and no approved HDV treatments. Financially, modeled revenue ramps to $259.3 million in 2026 and $423.5 million in 2030, with VIR-5500 risk-adjusted U.S. program sales projected at $415 million in 2038 and additional milestone, royalty, and profit-share potential.

Bear case

Vir Biotechnology is viewed negatively because its valuation is concentrated in a single HDV franchise, while the broader platform is mostly terminal value and effectively “unpaid,” making the stock highly dependent on a narrow set of clinical outcomes. The company still faces major execution risk across HDV, HBV, HIV, and oncology, including no FDA approval precedent in HDV, intensifying competition from GILD’s bulevirtide and brelovitug, and the possibility that longer-acting HIV assets will not offset Biktarvy-related headwinds. Despite narrowing operating losses as R&D falls from $500.7 million in 2026E to $270.7 million in 2030E, ongoing cash burn and projected annual equity raises of $300 million to $350 million in 2028E-2029E raise dilution risk.

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