UPDATE: JPMorgan Starts HilleVax, Inc. (HLVX) at Overweight

JPMorgan analyst Eric Joseph initiates coverage on HilleVax, Inc. (NASDAQ: HLVX) with a Overweight rating and a price target of $24.00.

The analyst comments "We are Overweight rated on HLVX shares. Acute gastroenteritis due to norovirus infection posed a significant global health economic burden, concentrated among young children and older adults, and for which there are no approved vaccines or direct acting treatments. Forecasting a ~$1.8B TAM (~$900M in the US) in the infant pediatric setting, we view HilleVax's HIL-214 as a materially derisked vaccine candidate in the prevention of norovirus speak illness, the commercial potential of which is under reflected at current levels. With topline phase 2b data (2H23) seen as the primary value for shares over the foreseeable horizon, nearer-term value affirming readouts include interim trial safety (2H22) and immunogenicity analyses (1H23)."

For an analyst ratings summary and ratings history on HilleVax, Inc. click here. For more ratings news on HilleVax, Inc. click here.

Shares of HilleVax, Inc. closed at $9.50 yesterday.

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