Valneva: share down as forecasts below expectations

(CercleFinance.com) - Valneva fell back on Wednesday morning in Paris, after unveiling annual sales forecasts that fell short of market expectations.


The vaccine specialist raised its sales forecasts for 2024, now expecting total sales of E170m to E190m, compared with E153.7m in 2023.

Analysts at Invest Securities nevertheless point out that this forecast, even though it has been improved, is still below the consensus, which is targeting around E215m this year.

In FY 2023, its net loss narrowed to E101.4m, compared with E143.3m in 2022.

With cash and cash equivalent of E126.1m at end-2023, up E95m y-o-y, Valneva said that it is approaching FY 2024 in a good financial position.

However, the share price is currently down over 4%, one of the worst performers in SBF 120 index after Kering (-14%).


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