Analyst Edward White of H.C. Wainwright reiterated a Buy rating on Valneva (VALN – Research Report), retaining the price target of $17.00.
Edward White has given his Buy rating due to a combination of factors including Valneva’s strategic advancements and promising financial projections. The submission of a label extension for Ixchiq to the U.K.’s MHRA to include adolescents aged 12 to 17 marks a significant step in expanding the vaccine’s market. This move follows a series of regulatory approvals and recommendations in major markets such as the U.S. and Europe, highlighting the vaccine’s growing acceptance and potential.
Furthermore, White’s price target of $17 is supported by robust revenue forecasts for Ixchiq, which are expected to rise significantly from €13M in 2025 to €225M by 2029. The valuation also considers probability-adjusted royalty estimates for Valneva’s Lyme disease vaccine, VLA15. The use of a 3.0x price/sales multiple for Ixchiq aligns with industry peers, and a 20% discount rate is applied to account for development risks, reflecting a balanced approach to the company’s growth prospects.
In another report released on March 23, Guggenheim also maintained a Buy rating on the stock with a $15.00 price target.