Vir Biotech Q2 Revenue Seen Surging 17,730% to $216M on Astellas Deal
VIR has more than doubled off its 52-week low of $4.155.
Summary
Analysts expect Vir Biotechnology to report Q2 revenue of $216.5 million, a massive jump from $1.2 million a year ago, driven by the Astellas collaboration for prostate cancer drug VIR-5500. EPS is estimated at 33 cents, a sharp swing from prior losses. The consensus rating is unanimously bullish with a median price target of $21, more than double the last close of $8.90. This follows the Q1 miss where actual EPS of -$0.85 badly trailed estimates, so the market will be watching whether the Astellas revenue materializes as projected. Earnings are due August 5.
At the time of this announcement, VIR was trading at $9.00 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $1.5B. The 52-week trading range was $4.16 to $11.66. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.