In a report released today, Matthew Lillis from Cantor Fitzgerald maintained a Hold rating on Novavax (NVAX), with a price target of $2. The company’s shares closed yesterday at $2.14.
Lillis wrote:
“: We reaffirm our Neutral rating and $2 PT on NVAX. We believe the company’s portfolio of vaccine candidates has the potential to meaningfully improve the prevention of important infectious diseases. We think the forthcoming release of top-line data from the ResVax Phase 3 trial may be an important catalyst for the stock with the potential to de-risk the company’s most- advanced asset. In our view, understanding the need for and access to additional capital to develop pipeline assets while retaining their potential value is key to evaluating the fair value of the stock.”
According to TipRanks.com, Lillis is a 2-star analyst with an average return of 2.9% and a 75.0% success rate. Lillis covers the Healthcare sector, focusing on stocks such as Taiwan Liposome Company Ltd, Supernus Pharmaceuticals, and Evofem Biosciences Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Novavax with a $3.90 average price target.
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The company has a one-year high of $2.75 and a one-year low of $1.15. Currently, Novavax has an average volume of 8.29M.
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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.