Shares of Vir Biotechnology (NASDAQ: VIR) were soaring 18.5% as of 11:08 a.m. ET on Tuesday. The big gain came after H.C. Wainwright analyst Patrick Trucchio boosted his price target on Vir from $135 to $200. Several analysts are bullish about Vir's prospects.
In particular, GlaxoSmithKline (NYSE: GSK) and Bristol-Myers Squibb (NYSE: BMY) are two of the world's most preeminent pharmaceutical companies, but neither has consistently outperformed the market over the past five years. Right now, Bristol-Myers is in the doldrums. Over the past three years, its quarterly revenue has jumped 94.6% and quarterly net income has risen 33.3%.
Merck's (MRK) Keytruda, in combination with Eisai's Lenvima, gets approval for treating first-line renal cell carcinoma and recurrent endometrial carcinoma in Europe.