Guggenheim lowered the firm’s price target on Valneva (VALN) to $13 from $14 and keeps a Buy rating on the shares following the company’s recent first half earnings release and the suspension of the Ixchiq BLA in the U.S. Given the suspension, the firm is removing all U.S. Ixchiq sales from its model and also assumes more limited commercial uptake in Europe, but it maintains a Buy rating ahead of the “important” Phase 3 data readout for their Lyme vaccine that it expects by late Q4 or in early Q1 of 2026.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VALN:
- Valneva Reports Positive Phase 2 Results for Lyme Disease Vaccine
- Valneva’s Stock: A Buy Rating Amid Overreaction and Promising Vaccine Prospects
- Valneva selloff on FDA suspension overdone, says H.C. Wainwright
- Valneva price target lowered to $14 from $18 at Jefferies
- Valneva announces U.S. FDA’s decision to suspend license of IXCHIQ