In a report released today, Edward White from H.C. Wainwright reiterated a Buy rating on Valneva (VALN – Research Report), with a price target of $17.00.
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Edward White’s rating is based on Valneva’s promising developments in their vaccine pipeline, particularly the Shigella4V2 candidate, which has entered a Phase 2 study in infants. This vaccine, targeting a severe diarrheal disease, has received FDA Fast Track designation, indicating its potential significance. Additionally, Valneva’s strategic assumption of R&D and regulatory activities for the vaccine suggests a commitment to its commercialization, which could enhance the company’s future prospects.
Furthermore, Edward White’s Buy rating is supported by revenue forecasts for Valneva’s other vaccine candidates, such as Ixchiq for chikungunya and VLA15 for Lyme disease. The valuation considers a high probability of success for these vaccines, with a net present value calculation through 2029. The price target of $17 reflects these forecasts, alongside a price/sales multiple that aligns with industry peers, adjusted for development risks. Overall, the combination of these factors underpins the positive outlook for Valneva’s stock.