UPDATE: Stifel Starts HilleVax, Inc. (HLVX) at Buy
Stifel analyst Stephen Willey initiates coverage on HilleVax, Inc. (NASDAQ: HLVX) with a Buy rating and a price target of $34.00.
The analyst comments "We believe the burden of disease and direct/indirect healthcare costs associated with norovirus-caused AGE – which disproportionately impacts young children (<4 years) and older adults (65+ years) – constitutes a compelling opportunity for widespread vaccination in these at-risk populations. We believe HIL-214 – a bivalent VLP-based vaccine candidate against the most epidemiologically-relevant norovirus genotypes (GI.1/GII.4) – represents an optimal solution for addressing norovirus genetic/antigenic diversity and is clinically de-risked via safety/immunogenicity data already generated across nine clinical trials. We believe the recently-initiated P2b infant trial will meaningfully de-risk a future path to HIL-214 registration in this target population (efficacy data expected 2H23) – while the opportunity in older adults represents a compelling/ significantlylarger source of longer-term optionality within our model. Our confidence re: the post-approval ACIP recommendations underlying our HIL-214 sales estimates in each target population is informed by KOL diligence and consistent with historical precedent established in comparable settings of age-specific disease burden (rotavirus/shingles)."
Shares of HilleVax, Inc. closed at $9.50 yesterday.
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