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Valneva (VALN)
NASDAQ:VALN
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Valneva
(NASDAQ:VALN)
49Neutral
Positive Factors
Funding
Valneva received a new grant from CEPI providing up to $41.3M of additional funding over five years.
Partnerships
Valneva announced a new partnership with the Serum Institute of India to supply the vaccine in Asia.
Regulatory Approvals
Ixchiq has received marketing authorization from the Brazilian Health Regulatory Agency for the prevention of disease caused by the chikungunya virus in individuals 18 years of age and older.
Negative Factors
Liability
Liability risks are highlighted as a potential challenge for Valneva's operations.
Risks
Risks include commercial, regulatory, development, manufacturing, financial/dilution, and liability.
Valneva (VALN) vs. S&P 500 (SPY)
Market Cap
$545.65M
Dividend YieldN/A
Average Volume (3M)100.83K
Price to Earnings (P/E)―
Beta (1Y)0.65
Revenue Growth10.30%
EPS Growth95.16%
CountryUS
Employees713
SectorHealthcare
Sector Strength74
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.08
Shares Outstanding83,635,765
10 Day Avg. Volume12,853
30 Day Avg. Volume100,833
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.00
Price to Cash Flow (P/CF)0.00
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$16.00Price Target Upside150.78% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
Valneva Business Overview & Revenue Model
Company DescriptionValneva SE is a specialty vaccine company focused on the development and commercialization of prophylactic vaccines for infectious diseases with significant unmet medical needs. Headquartered in Saint-Herblain, France, the company operates within the biotechnology and pharmaceutical sectors, providing a range of vaccines that target diseases such as Lyme disease, chikungunya, and Japanese encephalitis.
How the Company Makes MoneyValneva generates revenue primarily through the sale of its vaccines to both government and private sector clients. The company's revenue streams include product sales, which are derived from the distribution of its commercialized vaccines, and collaboration agreements with other pharmaceutical companies for the development and commercialization of new vaccines. Significant partnerships, such as those with pharmaceutical giants for the co-development of vaccines, contribute to its earnings by providing upfront payments, milestone payments, and royalties on sales. Additionally, Valneva may receive funding and grants from governmental and non-governmental organizations to support its vaccine research and development efforts.
Valneva Financial Statement Overview
Summary
Valneva demonstrates improvement in revenue and operating margins but continues to face challenges in achieving profitability. The balance sheet presents a stable capital structure, yet the company struggles with negative returns. Cash flow metrics indicate gradual progress but remain a key area for further improvement to ensure financial resilience.Income Statement
Valneva's revenue has shown volatility with a substantial decline in 2022 followed by a recovery in 2023 and 2024. Gross profit margin improved to 41.9% in 2024 from 34.4% in 2023, indicating better cost management. However, the net profit margin remains negative, highlighting ongoing profitability challenges. The EBIT margin turned positive in 2024 (7.9%), reflecting improvement in operational efficiency, but the company still faces significant profitability hurdles.45
Neutral
Balance Sheet
Valneva's balance sheet shows a moderate debt-to-equity ratio of 1.19 in 2024, indicating a balanced capital structure compared to previous years. The equity ratio is 36.2%, reflecting a stable financial position with reasonable equity support. However, the return on equity is negative due to persistent net losses, signaling continued challenges in generating returns for shareholders.50
Neutral
Cash Flow
Cash flows have improved, with operating cash flow deficits narrowing significantly in 2024 compared to 2023. However, free cash flow remains negative, representing ongoing cash generation challenges. The operating cash flow to net income ratio is negative, highlighting persistent struggles in converting earnings to cash flow. Despite some improvements, cash flow stability remains a concern.40
Negative
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 169.58M | 153.71M | 361.30M | 348.08M | 110.32M | Gross Profit |
| 71.04M | 52.84M | 36.86M | 160.16M | 56.02M | EBIT |
| 13.33M | -82.09M | -113.44M | -61.39M | -55.11M | EBITDA |
| 32.08M | -57.72M | -99.39M | -46.87M | -46.11M | Net Income Common Stockholders |
| -12.25M | -101.43M | -143.28M | -73.42M | -64.39M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 168.27M | 126.08M | 289.43M | 346.64M | 204.39M | Total Assets |
| 500.03M | 460.06M | 621.34M | 817.35M | 449.16M | Total Debt |
| 216.31M | 208.82M | 152.38M | 114.66M | 105.45M | Net Debt |
| 48.04M | 82.74M | -137.05M | -231.99M | -98.94M | Total Liabilities |
| 318.78M | 331.81M | 401.55M | 646.77M | 371.74M | Stockholders Equity |
| 181.25M | 128.25M | 219.80M | 170.58M | 77.42M |
| Cash Flow | Free Cash Flow | |||
| -83.66M | -217.06M | -274.67M | -16.27M | 118.27M | Operating Cash Flow |
| -67.22M | -202.74M | -245.34M | 76.90M | 137.74M | Investing Cash Flow |
| 76.92M | -20.59M | -29.05M | -93.12M | -19.34M | Financing Cash Flow |
| 30.68M | 63.08M | 215.12M | 154.50M | 21.74M |
Valneva Technical Analysis
Neutral
6.38
Price Trends
6.90
Negative
5.96
Positive
6.10
Positive
Market Momentum
-0.07
Positive
44.53
Neutral
19.40
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VALN, the sentiment is Neutral. The current price of 6.38 is below the 20-day moving average (MA) of 6.61, below the 50-day MA of 6.90, and above the 200-day MA of 6.10, indicating a neutral trend. The MACD of -0.07 indicates Positive momentum. The RSI at 44.53 is Neutral, neither overbought nor oversold. The STOCH value of 19.40 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for VALN.
Valneva Risk Analysis
Valneva disclosed 86 risk factors in its most recent earnings report. Valneva reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Valneva Peers Comparison
Overall Rating
UnderperformOutperform
Sector (52)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
57 Neutral | $681.42M | ― | -182.71% | ― | 432.03% | 14.41% | |
56 Neutral | $596.33M | ― | -4.99% | ― | 20.69% | -5.94% | |
52 Neutral | $5.28B | 3.75 | -42.72% | 2.86% | 17.70% | 2.03% | |
49 Neutral | $545.65M | ― | -7.59% | ― | 10.30% | 95.16% | |
47 Neutral | $514.38M | ― | -39.04% | ― | -10.30% | -14.44% | |
44 Neutral | $608.97M | 62.16 | 3.73% | ― | 188.64% | ― | |
40 Underperform | $813.58M | ― | -54.14% | ― | ― | 6.99% |
* Healthcare Sector Average
Performance Comparison
VALN
Valneva
6.38
-1.05
-14.13%
RCKT
Rocket Pharmaceuticals
7.86
-14.91
-65.48%
ANAB
AnaptysBio
21.70
-4.64
-17.62%
IMTX
Immatics
5.01
-5.88
-53.99%
MRVI
Maravai Lifesciences Holdings
2.03
-6.77
-76.93%
PHAR
Pharming Group
8.75
-1.25
-12.50%
Valneva Earnings Call Summary
Earnings Call Date:Mar 20, 2025
(Q4-2024)
| % Change Since: -5.20%|
Next Earnings Date:May 07, 2025
Earnings Call Sentiment Neutral
Valneva had a successful year with achieved sales growth, a solid cash position, and strong regulatory and R&D progress. However, challenges such as delayed approvals and slower than expected market dynamics for IXCHIQ contribute to a balanced outlook.Q4-2024 Updates
Positive Updates
Achieved Double-Digit Sales Growth
Valneva achieved their targeted double-digit year-on-year sales growth with sales above €160 million, aligned with their 2024 guidance.
Strong Cash Position
Valneva reported a strong cash position at year-end, close to €170 million, with a significantly lower operating cash burn.
Regulatory Success and Pipeline Expansion
Valneva received three additional IXCHIQ approvals and expanded their pipeline with a leading Phase 2 Shigella program.
Positive Financial Performance Indicators
Valneva reported an operating profit of €20.7 million in 2024 compared with an operating loss of €82.1 million in the prior year.
Significant R&D Investments
The company increased R&D investments, notably in Phase 4 trials for chikungunya and a new Shigella program, supported by external grant funding.
Negative Updates
Delayed IXCHIQ Approval in Brazil
The anticipated approval in Brazil for IXCHIQ was delayed, although it is not yet on the critical path for Valneva's plans.
ACIP Meeting Postponements
Delays in ACIP meetings have impacted the access to the retail channel for IXCHIQ, affecting market dynamics.
Market Dynamics Challenge for IXCHIQ
The ramp-up for IXCHIQ was slower than anticipated, necessitating a revision of midterm guidance.
Company Guidance
In the earnings call, Valneva provided guidance for 2025, highlighting several key metrics and strategic objectives. The company projected total product sales to reach between €170 million and €180 million, with overall revenues expected to be in the range of €180 million to €190 million. This growth is mainly attributed to increased sales of IXCHIQ, especially in the U.S., and expansion into new territories. The company also expects a significant increase in research and development expenses, estimated to reach between €90 million and €100 million, driven by ongoing clinical trials, notably their chikungunya vaccine Phase 4 trial and the newly licensed Phase 2 Shigella vaccine candidate. Valneva reported a solid cash position of €168 million at the end of 2024 and aims to reduce its operational cash burn by over 50% in 2025. Looking ahead, Valneva anticipates a transformative potential for their Lyme disease vaccine candidate, VLA15, which is currently in Phase 3, with a first data readout expected by the end of 2025, followed by regulatory filings in 2026 and potential market entry by 2028.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.