5 Most Promising Biotech Stocks According to Analysts

2. Vir Biotechnology, Inc. (NASDAQ:VIR)

Number of Hedge Fund Holders: 17

Average Upside Potential as of February 24: 143.07%

Vir Biotechnology, Inc. (NASDAQ:VIR) is a California-based commercial-stage immunology company that develops therapeutic products to treat and prevent serious infectious diseases. It is one of the most promising biotech stocks to invest in, with an average upside potential of 143% as of February 24. 

Goldman Sachs analyst Paul Choi on February 21 upgraded Vir Biotechnology, Inc. (NASDAQ:VIR) from Neutral to Buy and increased the price target from $41 to $53. The upgrade is based on the expected mid-2023 release of VIR-2482 data, which is anticipated to demonstrate significantly better efficacy than currently approved and competing pipeline-stage flu vaccines. This outcome is predicted to drive upward revisions to consensus estimates and potentially result in substantial growth for the company’s shares. The analyst sees a “compelling risk/reward” on Vir Biotechnology, Inc. (NASDAQ:VIR)’s shares and considers the upcoming readout as an “underappreciated catalyst that could drive a major new leg of growth.”

According to Insider Monkey’s Q4 data, 17 hedge funds were bullish on Vir Biotechnology, Inc. (NASDAQ:VIR), compared to 18 funds in the last quarter. Cliff Asness’ AQR Capital Management is a significant position holder in the company, with 308,673 shares worth $7.8 million. 

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