CureVac (CVAC – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on April 10. Analyst Mani Foroohar from Leerink Partners maintained a Hold rating on the stock and has a $3.00 price target.
Mani Foroohar has given his Hold rating due to a combination of factors surrounding CureVac’s current financial and operational status. The company recently announced its fourth-quarter results, which included an operating loss that was below both the firm’s and consensus expectations. Despite this, CureVac maintains a strong cash position, which is projected to support its operations for several more years.
Additionally, CureVac’s ongoing clinical trials and collaborations present both opportunities and uncertainties. The completion of the Phase 1 Part B trial for CVGBM in glioblastoma and the initiation of new trials, such as the flu/COVID combo vaccine with GSK, highlight potential future milestones. However, the outcomes of these trials, along with pending patent rulings and legal proceedings, introduce elements of risk that contribute to the Hold rating.
Foroohar covers the Healthcare sector, focusing on stocks such as Alnylam Pharma, Moderna, and Benitec Biopharma. According to TipRanks, Foroohar has an average return of -15.3% and a 36.64% success rate on recommended stocks.