Valneva downgraded to Sell from Neutral at Goldman Sachs

Goldman Sachs downgraded Valneva (VALN) to Sell from Neutral with a $4.90 price target Following multiple data disappointments, the company’s outlook is “challenging and comes with significant uncertainty,” the analyst tells investors in a research note. The VALOR trial update creates an uncertain path to approval Goldman remains cautious on Valneva’s market opportunity for its Lyme disease vaccine candidate PF-07307405, the analyst tells investors in a research note.