Guggenheim Pounds the Table on Novavax, Inc. (NVAX)
Guggenheim analyst William Tanner was out pounding the table on Novavax, Inc. (NASDAQ:NVAX) Friday, reiterating a Buy rating and price target of $25, which implies an upside of 243% from current levels.
Tanner wrote, “We are designating NVAX shares as our Best Idea ahead of the release of top-line data (3Q16 per management guidance) from the Phase 3 Resolve trial of the RSV vaccine in older adults. If safe and effective, we believe it will become the first active vaccine marketed for preventing RSV infection. A significant, global unmet medical need should position Novavax well in negotiations with potential partners seeking ex-U.S. commercial rights, we believe. Release of the Resolve data could create substantial share volatility and we remind investors that the company possesses other assets that could also create share value, namely, the seasonal influenza vaccine and programs in other infectious diseases such as Zika.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst William Tanner has a yearly average return of 6.8% and a 53.5% success rate. Tanner has a 73.1% average return when recommending NVAX, and is ranked #909 out of 4127 analysts.
Out of the 4 analysts polled by TipRanks, 3 rate Novavax stock a Buy, while 1 rates the stock a Hold. With a return potential of 74.8%, the stock’s consensus target price stands at $12.69.
Recommended article: Novavax Shares Could Outperform: FBR