D. Boral Capital lowered the firm’s price target on GeoVax Labs (GOVX) to $14 from $18 and keeps a Buy rating on the shares. GeoVax has encountered a significant challenge following the termination of its BARDA-funded Phase 2b clinical trial for the GEO-CM04S1 COVID-19 vaccine, the firm says. This decision, made for the government’s convenience, halts a pivotal study that was set to evaluate GEO-CM04S1 against an approved mRNA vaccine in a 10,000-participant trial under Project NextGen. The abrupt termination raises concerns about the future trajectory of GeoVax’s vaccine development efforts and its financial implications, says D. Boral Capital. The firm has removed all BARDA revenues and stockpile awards that were in its model.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GOVX:
- GeoVax Labs price target lowered to $8.50 from $15 at Alliance Global Partners
- GeoVax Labs Faces Contract Termination for COVID-19 Vaccine
- RFK Jr. vaccine comments bode well for GeoVax, says Roth Capital
- GeoVax Labs Advances Vaccine Trials and Expands Operations
- GeoVax Labs Earnings Call: Mixed Sentiments and Strategic Plans
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue