Atea Pharmaceuticals (NASDAQ:AVIR) Stock Rating Upgraded by Zacks Investment Research

Atea Pharmaceuticals (NASDAQ:AVIR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, Zacks.com reports. The brokerage presently has a $64.00 price objective on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.70% from the company’s previous close.

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 research firms have also weighed in on AVIR. JPMorgan Chase & Co. boosted their target price on shares of Atea Pharmaceuticals from $45.00 to $66.00 and gave the stock an “overweight” rating in a report on Friday, January 29th. Morgan Stanley raised their target price on Atea Pharmaceuticals from $49.00 to $82.00 and gave the stock an “overweight” rating in a research note on Tuesday. Five analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and a consensus price target of $68.00.

Shares of AVIR stock traded down $0.41 on Thursday, hitting $56.79. 246,633 shares of the company’s stock were exchanged, compared to its average volume of 311,337. The stock’s 50 day moving average is $69.62. Atea Pharmaceuticals has a 12 month low of $24.15 and a 12 month high of $94.17.

Institutional investors and hedge funds have recently modified their holdings of the stock. Citigroup Inc. bought a new stake in Atea Pharmaceuticals during the 4th quarter worth approximately $115,000. Strs Ohio purchased a new position in shares of Atea Pharmaceuticals during the 4th quarter valued at $146,000. Blair William & Co. IL bought a new position in shares of Atea Pharmaceuticals in the fourth quarter worth $223,000. Wells Fargo & Company MN purchased a new stake in shares of Atea Pharmaceuticals in the fourth quarter worth $316,000. Finally, American International Group Inc. purchased a new stake in shares of Atea Pharmaceuticals in the fourth quarter worth $352,000.

Atea Pharmaceuticals Company Profile

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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