(AOF) – Valneva (+2.44%, at 3.86 euros) stands out on the SBF 120 following a note from Stifel, which reaffirmed its Buy recommendation on the stock, with a slightly increased price target from 9.50 to 10 euros. This represents an upside potential of 165.39% compared to Monday’s closing price.

The American investment bank is particularly optimistic about Valneva ahead of the Phase III results for VLA15, a vaccine developed with Pfizer against Lyme disease, expected in the first half of 2026. It is currently the only advanced-stage vaccine for this indication. Lyme disease is a bacterial infection transmitted by infected ticks, manifesting as skin rashes, fever, joint pain, and fatigue.

Market expectations regarding the vaccine’s efficacy are high, and Stifel believes that an efficacy rate between 70 and 80% would be viewed as a positive outcome. Should this be achieved, Valneva is expected to file for marketing authorization in the second half of 2026, with potential approval in 2027 and a targeted commercial launch by the end of 2027, well ahead of the 2028 tick season.

According to analysts at the American investment bank, VLA15 has the potential to become a “blockbuster.” Given the significant unmet medical needs and the rising prevalence of the disease, peak sales could reach 1.9 billion euros in Stifel’s base scenario. The optimistic scenario forecasts up to 3 billion euros in sales, while the pessimistic scenario estimates around 500 million euros.

Additionally, Valneva announced it had cash reserves of 143 million euros at the end of the third quarter of 2025, which, according to Stifel, provides sufficient funding through the planned launch of VLA15 in 2027. Analysts also anticipate that the vaccine specialist will achieve profitability next year. They further note that Valneva will be eligible for a milestone payment of 143 million dollars during the initial commercialization phase of VLA15, as well as tiered royalties on net sales ranging from 14 to 22%.