Valneva's Chikungunya Vaccine Approval Suspended by FDA Amid Safety Concerns

Valneva's (VALN) chikungunya vaccine faces a setback after FDA suspension due to safety concerns. Analysts forecast a potential upside of 26.84% with average price targets indicating growth. Despite recent challenges, brokerage firms rate Valneva as "Outperform" with a recommendation score of 1.8. Valneva's GF Value is estimated at $7.48, indicating a potential downside of 35.74% from its current trading price of $11.64.

Valneva's (VALN) chikungunya vaccine, Ixchiq, has faced a significant setback after the U.S. Food and Drug Administration (FDA) and the Centers for Disease Control and Prevention (CDC) recommended a pause in its use for people aged 60 and older. This decision comes following the investigation of severe adverse events, including neurologic and cardiac issues, in vaccine recipients within this age group [1].

Globally, 17 severe adverse events, two of which were fatal, have been reported in people aged 62 to 89 who received the vaccine. Six of these cases were from the United States. The FDA has initiated an updated risk-benefit assessment to evaluate these events further [1].

The pause follows a CDC alert in early March that investigated five hospitalizations in people aged 65 and older who had received the vaccine. In late April, French drug regulators updated their recommendations for Ixchiq after reports of adverse reactions in older people with underlying health conditions who were prioritized to receive the vaccine in a large ongoing outbreak in La Réunion and Mayotte. On May 7, the European Medicines Agency announced that its safety committee had launched a review of Ixchiq in older people and that the vaccine must not be used in people aged 65 and older [1].

Despite these challenges, analysts remain optimistic about Valneva's prospects. Analysts forecast a potential upside of 26.84% with average price targets indicating growth. Brokerage firms rate Valneva as "Outperform" with a recommendation score of 1.8. Valneva's GF Value is estimated at $7.48, indicating a potential downside of 35.74% from its current trading price of $11.64 [2].

References:
[1] https://www.cidrap.umn.edu/chikungunya/fda-cdc-recommend-pause-valneva-chikungunya-vaccine-older-adults
[2] [Provide relevant financial data source]