Valneva selloff on FDA suspension overdone, says H.C. Wainwright

H.C. Wainwright analyst Brandon Folkes reiterates a Buy rating on Valneva (VALN) after the FDA suspended the license for Ixchiq following four new reports of serious adverse events consistent with chikungunya-like illness. Despite the FDA’s decision, Valneva has not revised its revenue guidance for 2025, the analyst tells investors in a research note. The firm points out that management noted Ixchiq represents a relatively small portion of its near-term revenue expectations. The stock selloff today offers an attractive entry for investors who are constructive on a potential positive readout for VLA15 later this year, contends H.C. Wainwright. It views the selloff as overdone and keeps an $18 price target on Valneva.