H.C. Wainwright Thinks Novavax’s Stock is Going to Recover


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 $0.53, close to its 52-week low of $0.49.

Bernardino observed:

“We remain firm believers that a strong investment thesis remains for buying NVAX shares, as Prepare showed ResVax was safe, and importantly, resulted in clinically meaningful outcomes. While the stock remains down 76% from its closing price of $2.13 (February 27, 2019) prior to the Prepare results versus down 0.3% for the NBI, we think prospects for discussions with the FDA and EMA, which are expected in the next 90 days, are positive: we believe ResVax’s pathway to approval is under-appreciated and would be buyers of the stock. We remain focused on ResVax’s efficacy where it counts and its benign safety profile. As a reminder, RSV is the leading cause of hospitalizations in infants in the U.S. during the first six months of life (Leader, S. J. Pediatr. 2003; 143: S127).”

According to TipRanks.com, Bernardino is ranked #4939 out of 5262 analysts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Novavax with a $3.45 average price target, a 550.9% upside from current levels. In a report released today, 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 $0.49. Currently, Novavax has an average volume of 15.05M.

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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.

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