** Brokerage Morgan Stanley upgrades drug developer Vir Biotechnology to "overweight" from "equal-weight", citing promising early-stage trial data for their T-cell engager (TCE) technology
** Brokerage also raises PT to $20 fom $10 — a 60.3% upside to the stock's Wednesday close
** TCE technology uses antibodies to target tumor cells and also activate T-cells that help the immune system destroy cancer cells
** On Wednesday, VIR's drugs using the technology, VIR-5818 and VIR-5500, showed what it called a compelling response in patients with various solid tumors during early-stage trials
** Brokerage says the drugs did not cause high-grade cytokine release syndrome $(CRS)$, supporting higher and less frequent dosing
** CRS happens when the immune system overreacts and releases too many chemicals, causing inflammation
** Seven of 9 brokerages rate the stock "buy" or higher and 2 "hold"; their median PT is $20 - LSEG
** VIR declined ~30% in 2024
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com;))
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