CureVac price target lowered to $2 from $2.50 at BofA

BofA lowered the firm’s price target on CureVac (CVAC) to $2 from $2.50 and keeps an Underperform rating on the shares. Q1 results highlighted the progression of the pipeline in early-stage clinical studies, but the firm sees work to be done to prove the value of the pipeline and awaits clarity on the patent dispute situation, the analyst tells investors.