- CureVac (NASDAQ:CVAC) -3.8% pre-market after Credit Suisse downgrades shares to Underperform from Neutral with a $50 price target, saying even the bull case would value the company's vaccine business at $42/share while the base case is just $29.
- CureVac's CVnCoV vaccine has a less favorable adverse event profile compared to mRNA peers, leading Credit Suisse to suggest it may not succeed and at least struggle to reach the high efficacy bar set by Moderna and Pfizer/BioNTech.
- "This is a big wake-up call," Notable Calls remarks on the downgrade. "CVAC is richly valued and has a possibly inferior vaccine... Yesterday may have represented a top for the name."
- CVAC shares have tripled since September, hitting an all-time high $151.80 during yesterday's trade.
- https://seekingalpha.com/news/3643244-curevac-cut-to-sell-equivalent-credit-suisse-vaccine-overvalued
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