UPDATE: JMP Securities Starts CureVac (CVAC) at Market Outperform

January 18, 2022 4:04 AM EST
Get Alerts CVAC Hot Sheet
Price: $14.62 -2.08%

Rating Summary:
    2 Buy, 3 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 12 | New: 20
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(Updated - January 18, 2022 4:58 AM EST)

JMP Securities analyst Roy Buchanan initiates coverage on CureVac (NASDAQ: CVAC) with a Market Outperform rating and a price target of $52.00.

The analyst comments "Our view of CureVac’s platform potential suggests a meaningful opportunity for gains from sophisticated efforts to develop RNA therapeutics and vaccines; we initiate coverage with a Market Outperform rating and $52 price target derived from the values of a basket of comparable companies, second-generation SARS-CoV-2 vaccine candidate, CV2CoV, and cash. CureVac is a long-standing developer in the relatively new space of mRNA vaccines and therapeutics. The company missed the first wave of cash from COVID-19 vaccines, but in our view this does not reflect on its ability to capitalize on future mRNA-based opportunities. We think CureVac's CV2CoV candidate for COVID-19 may be on market in ~24-36 months; it is a meaningful contributor to our PT, but most of our valuation is derived from a discounted relative-value analysis that we believe reflects the relatively early developmental stages of its other programs."

For an analyst ratings summary and ratings history on CureVac click here. For more ratings news on CureVac click here.

Shares of CureVac closed at $24.48 yesterday.

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