Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Stifel lifts HilleVax stock price target to $34 on upcoming clinical trial data

EditorNatashya Angelica
Published 22/03/2024, 02:34 am
© Reuters.
HLVX
-

On Thursday, Stifel showed continued optimism for HilleVax, Inc. (NASDAQ:HLVX), raising the price target on the company's stock to $34 from $30, while maintaining a Buy rating. The adjustment comes in anticipation of upcoming data from a key trial for the company's norovirus vaccine candidate.

HilleVax is currently conducting the Phase 2b NEST-IN1 trial, which is evaluating HIL-214, a potential first-in-class vaccine aimed at preventing norovirus-mediated acute gastroenteritis (AGE) in infants. The firm expressed confidence in the trial's design and execution, and it is optimistic about the vaccine meeting the efficacy guidance provided by HilleVax's management.

The company's guidance suggests that the vaccine could achieve over 70% efficacy. This expectation is supported by results from previous Phase 1 and Phase 2 trials, which showed around 60% efficacy against a different norovirus strain and observed significantly more AGE events in the placebo group compared to the vaccinated group.

Stifel's revised price target reflects a positive outlook on the potential for the vaccine to show clinically meaningful data from the NEST-IN1 trial. The firm also anticipates that successful trial outcomes could lead to the expansion of HIL-214 development to include adult populations at risk of norovirus infection, which could significantly impact the company's valuation.

The updated price target is also influenced by reduced expenditure estimates for HilleVax beyond fiscal year 2024, suggesting a more efficient allocation of resources as the company progresses with its vaccine development.

The market is watching closely as HilleVax advances through this critical phase of clinical trials, with significant implications for both infant and adult health management in the face of norovirus threats.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.