First Berlin Equity Research has published an update on Valneva SE, maintaining a "Buy" recommendation and raising the 12-month price target from €6.30 to €6.80. Analyst Simon Scholes cited the advanced clinical development of Valneva's Lyme disease vaccine candidate, VLA15, which is being developed in partnership with Pfizer. All vaccinations in the pivotal phase 3 trial of VLA15 have been completed, with results expected in the first half of next year. Subject to positive outcomes, Pfizer plans to seek regulatory approval in Europe and the U.S. in 2026, with a potential launch in autumn 2027. The new price target reflects increased expectations for VLA15, outweighing recent downward adjustments to forecasts for other Valneva products.
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