Novavax, Inc. (NVAX) Shares Could Outperform: FBR


In a research report issued today, FBR analyst Vernon Bernardino reiterated an Outperform rating on shears of Novavax, Inc. (NASDAQ:NVAX), with a price target of $17.00, after the vaccine maker reported second quarter results and provided investors with an update on its regulatory and clinical progress.

Bernardino wrote, “NVAX made steady 2Q16 progress, highlighted by Fast Track Designation from the FDA for its RSV F-protein nanoparticle vaccine candidate (RSV F Vaccine) for protection of adults aged 60 years and older and by the announcement of a new program to develop nanoparticle vaccines for seasonal respiratory diseases, with a nanoparticle influenza vaccine as the first candidate. We think moving to the nanoparticle approach is a natural evolution of NVAX’s success with creating a highvalue, nanoparticle vaccine for respiratory syncytial virus (RSV), which is under evaluation in two ongoing Phase III clinical trials: RESOLVE (elderly adults) and PREPARE (infant protection via maternal immunization).”

“With release of top-line data from RESOLVE expected this quarter, and NVAX shares being down 19.0% YTD, versus down 14.7% for the NASDAQ Biotechnology Index (NBI), we think current share prices are at levels that could outperform,” the analyst concluded.

As usual, we recommend taking analyst notes with a grain of salt. According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Vernon Bernardino has a yearly average return of -11% and a 34% success rate. Bernardino has a 31.2% average return when recommending NVAX, and is ranked #3982 out of 4110 analysts.

All the 4 analysts polled by TipRanks rate Novavax stock a Buy. With a return potential of 117%, the stock’s consensus target price stands at $14.75.

 

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