So Nomura value PRR at 32c now, discounted from 52c based on the probability of CVAC not being proven to be a viable commercial treatment.
So if phase 11b comes back positive, then there is some de-risking and the intrinsic valuation should move up somewhere between 32c and 52c. Probably closer to 32c
This is Nomura people..... they know their proverbial excrement.
Even at close to 32c than 52c that's essentially a 100% return between the SP and their intrinsic valuation.
Really not sure why more aren't jumping in at this price so close to the results....
nomura report target 32c, page-6
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