Atea Pharmaceuticals (NASDAQ:AVIR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday, Zacks.com reports. The brokerage presently has a $64.00 target price on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 12.70% from the stock’s current price.
According to Zacks, “Atea Pharmaceuticals Inc. is a clinical-stage biopharmaceutical company. It is focused on discovering, developing and commercializing antiviral therapeutics to improve the lives of patients suffering from life-threatening viral infections. Atea Pharmaceuticals Inc. is based in BOSTON. “
A number of other brokerages have also recently issued reports on AVIR. JPMorgan Chase & Co. lifted their price target on shares of Atea Pharmaceuticals from $45.00 to $66.00 and gave the company an “overweight” rating in a research report on Friday, January 29th. Morgan Stanley lifted their target price on shares of Atea Pharmaceuticals from $49.00 to $82.00 and gave the company an “overweight” rating in a report on Tuesday. Five investment analysts have rated the stock with a buy rating, Atea Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $68.00.
A number of hedge funds have recently made changes to their positions in AVIR. Citigroup Inc. bought a new stake in Atea Pharmaceuticals during the 4th quarter valued at about $115,000. Strs Ohio bought a new position in shares of Atea Pharmaceuticals in the fourth quarter worth approximately $146,000. Blair William & Co. IL purchased a new stake in shares of Atea Pharmaceuticals during the fourth quarter valued at approximately $223,000. Wells Fargo & Company MN purchased a new stake in shares of Atea Pharmaceuticals during the fourth quarter valued at approximately $316,000. Finally, American International Group Inc. bought a new stake in shares of Atea Pharmaceuticals during the fourth quarter valued at approximately $352,000.
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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