Analyst Edward White of H.C. Wainwright reiterated a Buy rating on Valneva (VALN – Research Report), retaining the price target of $18.00.
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Edward White has given his Buy rating due to a combination of factors including the recent regulatory achievements and optimistic revenue projections for Valneva’s vaccine products. The marketing authorization of Ixchiq, Valneva’s chikungunya vaccine, in the UK and its anticipated approval in Brazil indicate strong potential for market expansion. Additionally, Ixchiq has already seen approvals in the U.S., Europe, and Canada, with sales expected to exceed €100 million by the third year of its commercial launch.
Further supporting the Buy rating is the financial forecast for Valneva’s pipeline. The projections for Ixchiq’s revenue, expected to grow significantly by 2029, along with a positive outlook for VLA15, a Lyme disease vaccine, contribute to the optimistic valuation. White uses a price/sales multiple methodology aligned with industry peers and applies a probability-adjusted approach to estimate future cash flows, resulting in a price target of $18. Despite potential risks in commercial, regulatory, and development areas, the growth prospects of Valneva’s vaccine portfolio justify the positive recommendation.
White covers the Healthcare sector, focusing on stocks such as 60 Degrees Pharmaceuticals, Inc., Chimerix, and Syndax Pharmaceuticals. According to TipRanks, White has an average return of -5.8% and a 35.57% success rate on recommended stocks.