H.C. Wainwright Keeps a Buy Rating on Novavax (NVAX)


In a report released today, Vernon Bernardino from H.C. Wainwright reiterated a Buy rating on Novavax (NVAX), with a price target of $2. The company’s shares opened today at $0.51, close to its 52-week low of $0.47.

Bernardino commented:

“We reiterate our Buy rating and price target of $2 (derived using DCF methodology with a 30% discount rate, 2% terminal growth rate, and 85% clinical program probability-of-success). Risks to our investment thesis include failure of clinical trials, regulatory requirements for additional clinical studies, unproven commercialization strategy, failure of products to show sufficient differentiation in targeted therapeutic indications, patent expiry or invalidation, and potential to raise additional funds under poor market conditions. Novavax, Inc.”

According to TipRanks.com, Bernardino is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -5.1% and a 28.9% success rate. Bernardino covers the Healthcare sector, focusing on stocks such as Citius Pharmaceuticals Inc, Can-Fite BioPharma, and Seres Therapeutics.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Novavax with a $1.35 average price target, representing a 164.9% upside. In a report released yesterday, Oppenheimer also assigned a Buy rating to the stock with a $1.25 price target.

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The company has a one-year high of $2.58 and a one-year low of $0.47. Currently, Novavax has an average volume of 16.93M.

Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NVAX in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Novavax, Inc. is a late-stage biotechnology company, which focuses on the discovery, development and commercialization of vaccines to prevent infectious diseases. It produces vaccine candidates to respond to both known and emerging disease threats by using the proprietary recombinant nanoparticle vaccine technology.

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