J.P. Morgan Reiterates Overweight on Novavax, Inc. Following Investor Meetings With Management

J.P. Morgan’s healthcare analyst Cory Kasimov came out with a few insights on Novavax, Inc. (NASDAQ:NVAX), after hosting CEO Stanley Erck, SVP R&D Greg Glenn and CFO, SVP & Treasurer Buck Phillips for investor meetings. The analyst rates the stock an Overweight with a $10 price target, which represents a potential upside of 6% from where the stock is currently trading.

Kasimov noted, “Management largely reviewed the encouraging progress made with the company’s several clinical programs underway and reiterated expected timelines for data readouts this year. Overall, based on safety and immunogenicity data to date, we see a high probability of success for the RSV program and believe clinical data in ~mid-2015 could drive further upside.”

The analyst continued, “Management highlighted the attractive size of the elderly market opportunity with ~180K hospitalizations and ~15K deaths annually. In addition, management reiterated that the attack rate and vaccine effect seen in the Ph2 study will be used to power the Ph3 efficacy trial. Of note, NVAX mentioned the elderly population is not difficult to recruit and the Ph3 efficacy trial is expected to last one season with data next summer.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Cory Kasimov has a total average return of 14.4% and a 58.6% success rate. Kasimov has a 57.9% average return when recommending NVAX, and is ranked #363 out of 3516 analysts.


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