HC Wainwright Cuts Valneva (NASDAQ:VALN) Price Target to $23.00

Valneva (NASDAQ:VALN) had its price target dropped by stock analysts at HC Wainwright from $26.00 to $23.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s target price points to a potential upside of 284.85% from the company’s previous close.

Valneva Stock Up 1.1 %

Shares of Valneva stock opened at $5.98 on Wednesday. The company has a 50-day simple moving average of $7.15 and a two-hundred day simple moving average of $7.60. The stock has a market capitalization of $416.18 million, a PE ratio of -14.58 and a beta of 2.19. Valneva has a 52-week low of $5.70 and a 52-week high of $14.49. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.15 and a current ratio of 2.63.

Valneva (NASDAQ:VALN) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. The company had revenue of $40.97 million during the quarter, compared to analyst estimates of $46.83 million. Valneva had a negative net margin of 21.31% and a negative return on equity of 20.01%. On average, analysts anticipate that Valneva will post 0.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Valneva

A hedge fund recently raised its stake in Valneva stock. AlphaCentric Advisors LLC raised its stake in shares of Valneva SE (NASDAQ:VALN) by 42.3% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 88,252 shares of the company’s stock after acquiring an additional 26,248 shares during the period. AlphaCentric Advisors LLC owned approximately 0.13% of Valneva worth $649,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 11.39% of the company’s stock.

Valneva Company Profile

Valneva SE, a specialty vaccine company, develops, manufactures, and commercializes prophylactic vaccines for infectious diseases with unmet needs. It offers IXIARO, an inactivated Vero cell culture-derived Japanese encephalitis vaccine indicated for active immunization against Japanese encephalitis; DUKORAL, an oral vaccine for the prevention of diarrhea caused by Vibrio cholera and/or heat-labile toxin producing enterotoxigenic Escherichia coli bacterium; IXCHIQ, a single-dose, live-attenuated vaccine for the prevention of disease caused by chikungunya virus; and VLA2001, an inactivated whole-virus COVID-19 vaccine.