CureVac stock maintains $10 target from JMP on GBM vaccine outlook

On Wednesday, JMP Securities reaffirmed their positive stance on CureVac shares, maintaining a Market Outperform rating and a $10.00 price target. The stock has shown remarkable momentum, gaining over 51% in the past six months according to InvestingPro data. Analysts at JMP highlighted the biopharmaceutical company’s recent quarterly results, which showed a slight outperformance compared to their projections but fell short of the broader market consensus. CureVac ended the first quarter of 2025 with a cash reserve of €438 million, which is expected to sustain the company’s operations into 2028, supporting its impressive 87.62% gross profit margin.

The company’s key clinical developments, particularly concerning the glioblastoma (GBM) vaccine, CVGBM, remain on schedule. Results from the dose expansion trial of the vaccine are anticipated in the second half of 2025, and a decision on whether to proceed to Phase 2 is expected concurrently. JMP analysts underscored the importance of these clinical milestones in their valuation of CureVac. InvestingPro analysis shows the company maintains an excellent financial health score, with a strong current ratio of 7.65, indicating robust liquidity to support its clinical programs.

Apart from the GBM vaccine, CureVac’s other development programs are reportedly advancing as planned. The company is currently engaged in intellectual property litigation against pharmaceutical giants Pfizer/BioNTech and Moderna (NASDAQ:MRNA). These legal proceedings are moving forward, with significant updates anticipated later in the year. Notably, infringement hearings in Europe are set to take place in approximately one month, followed by a U.S. trial commencing in early September.

The reaffirmation of the price target and rating by JMP Securities emphasizes the potential value drivers for CureVac, particularly the progress of its GBM vaccine and ongoing IP litigation. The company’s financial position appears robust, with sufficient funding to carry its operations for several years ahead. As the market awaits the outcomes of the clinical trials and legal confrontations, CureVac’s stock rating and price target reflect a steady outlook based on the current trajectory of its development programs.

In other recent news, CureVac has announced that the U.S. Food and Drug Administration (FDA) has cleared its Investigational New Drug (IND) application for CVHNLC, an mRNA-based immunotherapy targeting squamous non-small cell lung cancer. This marks a significant step for CureVac as it prepares to launch a Phase 1 clinical study to assess the safety and tolerability of CVHNLC in combination with pembrolizumab. Meanwhile, in Europe, CureVac received a favorable ruling from the European Patent Office (EPO) regarding its patent EP 3 708 668 B1, which was challenged by BioNTech (NASDAQ:BNTX). The EPO upheld the patent in an amended form, dismissing BioNTech’s opposition, and setting the stage for further legal proceedings in Germany. CureVac’s CEO expressed confidence in the patent’s validity, highlighting its importance for mRNA-based treatments. This legal victory is part of CureVac’s ongoing efforts to secure recognition for its contributions to mRNA technology. Investors have shown optimism following the EPO’s decision, reflecting confidence in CureVac’s potential to receive compensation for its innovations. As the legal proceedings continue, CureVac remains focused on advancing its portfolio of mRNA-based therapies.

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