Alliance Global Partners has adjusted its price target for GeoVax Labs (GOVX, Financial), reducing it from $15 to $8.50 while maintaining a Buy rating. This revision comes in response to a pause in funding for the BARDA Project NextGen and anticipated delays in the upcoming Phase 2b trial. These developments have introduced a level of uncertainty surrounding COVID-19 vaccines, influencing the analyst's outlook on the company's future performance.
The decision to maintain a Buy rating suggests that, despite the challenges, there is still a positive long-term view on GeoVax Labs (GOVX, Financial). However, the amended price target reflects current concerns about the project's funding and potential impacts on vaccine development and trials.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 5 analysts, the average target price for Geovax Labs Inc (GOVX, Financial) is $14.60 with a high estimate of $20.00 and a low estimate of $8.00. The average target implies an upside of 1,264.49% from the current price of $1.07. More detailed estimate data can be found on the Geovax Labs Inc (GOVX) Forecast page.
Based on the consensus recommendation from 5 brokerage firms, Geovax Labs Inc's (GOVX, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
