HC Wainwright Lowers Valneva (NASDAQ:VALN) Price Target to $20.00

Valneva (NASDAQ:VALN) had its price objective lowered by HC Wainwright from $23.00 to $20.00 in a research report released on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock. HC Wainwright also issued estimates for Valneva’s FY2024 earnings at $0.00 EPS.

Valneva Stock Performance

Shares of VALN opened at $5.65 on Friday. The stock’s 50-day simple moving average is $6.75 and its 200 day simple moving average is $7.42. The stock has a market capitalization of $393.45 million, a price-to-earnings ratio of -13.78 and a beta of 2.17. 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 has a 52-week low of $5.57 and a 52-week high of $14.49.

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

Hedge Funds Weigh In On Valneva

A hedge fund recently raised its stake in Valneva stock. General American Investors Co. Inc. boosted its holdings in Valneva SE (NASDAQ:VALN) by 2.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 354,361 shares of the company’s stock after acquiring an additional 9,361 shares during the quarter. General American Investors Co. Inc. owned 0.51% of Valneva worth $2,831,000 at the end of the most recent reporting period. 11.39% of the stock is owned by institutional investors.

About Valneva

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.