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.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
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