Valneva (NASDAQ:VALN) Trading 14.3% Higher Following Strong Earnings

Key Points

• Valneva's shares surged by 14.3% following a favorable earnings report, which revealed a loss of $0.16 per share, surpassing expectations by $0.11.
• The company's revenue was significantly higher than anticipated, reporting $54.84 million compared to the consensus estimate of $46.28 million.
• Several brokerages have reinstated a "buy" rating on Valneva, with HC Wainwright setting a target price of $17.00, while Guggenheim lowered its target from $15.00 to $14.00.

Shares of Valneva SE Sponsored ADR (NASDAQ:VALN - Get Free Report) were up 14.3% on Wednesday following a better than expected earnings announcement. The stock traded as high as $10.79 and last traded at $10.75. Approximately 50,047 shares changed hands during trading, a decline of 19% from the average daily volume of 61,771 shares. The stock had previously closed at $9.40.

The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.11. The firm had revenue of $54.84 million for the quarter, compared to the consensus estimate of $46.28 million. Valneva had a negative return on equity of 43.05% and a negative net margin of 43.08%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on VALN. HC Wainwright reaffirmed a "buy" rating and set a $17.00 price target on shares of Valneva in a research report on Tuesday, April 15th. Guggenheim dropped their target price on Valneva from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th.

Institutional Investors Weigh In On Valneva

A hedge fund recently raised its stake in Valneva stock. Wells Fargo & Company MN increased its holdings in shares of Valneva SE Sponsored ADR (NASDAQ:VALN - Free Report) by 14.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 246,766 shares of the company's stock after acquiring an additional 30,859 shares during the period. Wells Fargo & Company MN owned approximately 0.30% of Valneva worth $1,079,000 as of its most recent SEC filing. 11.39% of the stock is currently owned by hedge funds and other institutional investors.

Valneva Price Performance

The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.12 and a current ratio of 2.70. The stock has a market capitalization of $915.48 million, a PE ratio of -9.00 and a beta of 1.77. The stock's 50 day moving average is $6.57 and its two-hundred day moving average is $6.64.

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.

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