Atea Pharmaceuticals (NASDAQ:AVIR) Given New $82.00 Price Target at Morgan Stanley

Atea Pharmaceuticals (NASDAQ:AVIR) had its price objective hoisted by equities researchers at Morgan Stanley from $49.00 to $82.00 in a research note issued to investors on Tuesday, Stock Target Advisor reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 43.36% from the company’s current price.

A number of other research firms have also commented on AVIR. Zacks Investment Research raised Atea Pharmaceuticals from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research note on Tuesday, March 30th. JPMorgan Chase & Co. increased their price objective on Atea Pharmaceuticals from $45.00 to $66.00 and gave the company an “overweight” rating in a research note on Friday, January 29th. Five research analysts have rated the stock with a buy rating, Atea Pharmaceuticals has a consensus rating of “Buy” and an average target price of $68.50.

AVIR opened at $57.20 on Tuesday. Atea Pharmaceuticals has a 52 week low of $24.15 and a 52 week high of $94.17. The firm’s fifty day moving average is $69.62.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD purchased a new position in Atea Pharmaceuticals during the fourth quarter worth about $102,251,000. Laurion Capital Management LP purchased a new position in Atea Pharmaceuticals during the fourth quarter worth about $1,880,000. Blair William & Co. IL purchased a new position in Atea Pharmaceuticals during the fourth quarter worth about $223,000. Congress Asset Management Co. MA purchased a new position in Atea Pharmaceuticals during the fourth quarter worth about $1,379,000. Finally, State of Wisconsin Investment Board purchased a new position in Atea Pharmaceuticals during the fourth quarter worth about $840,000.

About Atea Pharmaceuticals

Atea Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapies for severe viral diseases. The company's lead product candidate is AT-527, a novel antiviral agent for the treatment of patients infected with severe acute respiratory syndrome coronavirus 2 and is under phase 3 clinical trial.

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