Valneva (VALN) has received a new Buy rating, initiated by H.C. Wainwright analyst, Edward White.
Edward White has assigned a Buy rating to Valneva’s stock due to a variety of factors. One of the main reasons is the new Ixiaro supply agreement with the U.S. Department of Defense, which is expected to provide a positive cash flow to the company that will be used to support further research and development. Moreover, the ongoing Phase 3 trial for VLA15 in Lyme disease and the VLA1553 PDUFA date in November for chikungunya are other important aspects to focus on. These developments could potentially generate a Pediatric Review Voucher, which could bring in an additional $100 million to the company.
White’s $22 price target is based on several elements including probability-adjusted revenue forecasts for VLA1553 for chikungunya, probability-adjusted for royalty estimates for VLA15 for Lyme disease, and the firm’s estimated net cash per share by the end of 2023. The $22 target also takes into account Valneva’s potential revenues of €350 million for VLA1553 and €738 million for VLA15 in 2028, alongside the net present value of the revenue forecast through 2028. The analyst has also considered the commercial, regulatory, developmental, manufacturing, financial, and liability risks associated with the company in his valuation.
According to TipRanks, White is an analyst with an average return of -20.2% and a 23.34% success rate. White covers the Healthcare sector, focusing on stocks such as Karyopharm Therapeutics, Inozyme Pharma, and Valneva.
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Valneva (VALN) Company Description:
Valneva SE is a vaccine company focused on developing life-saving vaccines. Its portfolio includes two vaccines for travellers; one for the prevention of Japanese encephalitis (IXIARO) and the second (DUKORAL) for the prevention of cholera and diarrhoea. The segments of the group are Commercialized vaccines which relate to marketed vaccines, the group’s vaccines IXIARO/JESPECT, DUKORAL, and third-party products; Vaccine candidates which relate to research and development programs to generate new approvable products to generate future cash flows from product sales through partnering with pharmaceutical companies; and Technologies and services which relates to services and inventions at a commercialization stage. The group is based in France and operates internationally.
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