Analyst Edward White of H.C. Wainwright maintained a Buy rating on Valneva (VALN – Research Report), with a price target of $26.00.
Edward White’s Buy rating for Valneva’s stock (ticker: VALN) is predicated on a variety of promising developments within the company. One key factor is the successful sale of the Priority Review Voucher for $103 million, which is expected to fund further research and development, including the advancement of Valneva’s Phase 3 Lyme disease vaccine and the expansion of its clinical pipeline. Additionally, the positive outlook for the chikungunya vaccine, Ixchiq, with projected sales growth and anticipated market size exceeding $500 million by 2032, supports the valuation. White also emphasizes the potential for further regulatory approvals, which could significantly expand the market for Ixchiq and enhance revenue streams.
White’s valuation includes a comprehensive analysis of projected revenues, adjusted for probabilities and market comparables. He incorporates a net present value calculation for revenue forecasts through 2028, applying a 100% probability of success (POS) for Ixchiq and a 75% POS for the Lyme disease vaccine VLA15. The price-to-sales multiples used in his analysis are in line with industry standards for Valneva’s peers. Risks such as commercial, regulatory, and development uncertainties are acknowledged, yet the overall financial prospects, particularly the revenue projections of €310 million for Ixchiq and €738 million for VLA15 in 2028, underpin the Buy rating and a $26 price target.
According to TipRanks, White is an analyst with an average return of -12.3% and a 32.87% success rate. White covers the Healthcare sector, focusing on stocks such as Valneva, 60 Degrees Pharmaceuticals, Inc., and Adicet Bio.
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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.
