Cantor Fitzgerald analyst William Tanner reiterated a Hold rating on Novavax (NASDAQ: NVAX) yesterday and set a price target of $2. The company’s shares closed yesterday at $1.84.
Tanner commented:
“: We reiterate our Neutral rating and $2 PT for NVAX stock. As we have previously opined, we believe the company’s vaccine candidates, specifically the RSV vaccine and NanoFlu seasonal influenza vaccine, could represent important new preventatives. The opportunity lost (or delayed, perhaps) to raise capital with failure of the Phase 2 elderly Resolve RSV vaccine trial creates difficulties for us to assess the value of the assets to NVAX. Had the study been successful, we suspect the company would have been able to access financial resources to develop the vaccine, without a partner, at least in the U.S.”
According to TipRanks.com, Tanner is a 3-star analyst with an average return of 3.0% and a 50.3% success rate. Tanner covers the Healthcare sector, focusing on stocks such as Supernus Pharmaceuticals, Intra-Cellular Therapies, and Evofem Biosciences Inc.
The word on The Street in general, suggests a Hold analyst consensus rating for Novavax.
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Based on Novavax’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $44.49 million. In comparison, last year the company had a GAAP net loss of $44.47 million.
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Novavax, Inc. operates as a clinical-stage biopharmaceutical company, which engages in the provision of development of recombinant nanoparticle vaccines and adjuvants. Its product pipeline targets infectious diseases with vaccine candidates in clinical development for respiratory syncytial virus, seasonal influenza, pandemic influenza, and Ebola virus.
