on VALNEVA (EPA:VLA)
First Berlin Equity Research Reiterates Buy Rating for Valneva SE
On August 20, 2024, First Berlin Equity Research published an update on Valneva SE, maintaining its Buy recommendation and target price of €8.60. Analyst Simon Scholes emphasized that despite H1 product sales of €68.3M, which were slightly below the consensus of €71.6M, the company showed improvement in the gross margin of established products, increasing to 47.7% compared to 43.7% in Q1 2024 and 39.8% in H1 2023.
Valneva has reaffirmed its full-year product sales guidance of €160M-€180M. First Berlin believes the market undervalues the potential of Valneva's key asset, the Lyme vaccine candidate VLA15, anticipated for launch in 2027, pending regulatory approval.
The update reinforces confidence in Valneva's long-term value proposition, supporting the Buy rating and the unchanged price target of €8.60.
R. E.
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