Valneva SE (VALN) PT Lowered to $17 at H.C. Wainwright

H.C. Wainwright analyst Edward White lowered the price target on Valneva SE (NASDAQ: VALN) to $17.00 (from $18.00) while maintaining a Buy rating.

The analyst commented: "Yesterday, Valneva reported full-year 2024 revenue and its cash position as of December 31, 2024. The company reported 2024 total revenue of €169.6M, compared to €153.7M in 2023 (up 10% YoY). Our 2024 total revenue estimate was €169.4M, and the consensus estimate was €186.0M. The company noted that the double-digit sales growth occurred despite lower than anticipated launch-year Ixchiq sales in the U.S. Product sales were €163.3M in 2024, compared to product sales of €144.6M in 2023 (up 13% YoY). We estimate FY24 Ixchiq sales of €3M, and we are lowering our 2029 Ixchiq sales estimate to €225M from €250M. Valneva reported cash and cash equivalents of €168.3M as of December 31, 2024. The company plans to host a conference call on March 20, 2025. Reiterate Buy rating while adjusting PT to $17 from $18."

You May Also Be Interested In

• Bernstein SocGen Group Starts Terawulf Inc. (WULF) at Outperform
• Old Dominion Freight Line (ODFL) PT Raised to $233 at TD Cowen
• Dover Corp. (DOV) PT Raised to $230 at Morgan Stanley