Novavax (NVAX) Gets a Buy Rating from Oppenheimer


In a report released today, Kevin Degeeter from Oppenheimer maintained a Buy rating on Novavax (NVAX), with a price target of $4. The company’s shares closed yesterday at $2.04.

Degeeter wrote:

“On 1/3/19, NVAX announced positive results from a Phase II study of its flu vaccine, NanoFlu, in an elderly population. If the hemagglutination inhibition (HAI) titer profile is replicated in Phase III, in our view, NanoFlu is positioned to be a new standard of care in the $1B+ market for vaccination of the elderly to prevent flu, displacing FluZone HD based on potency against clinically important H3N2 strains. Importantly, the data suggest NanoFlu is effective in preventing infection from drifted strains that frequently result in mismatch of vaccine protection with egg-based flu vaccines. We believe these data support an important floor valuation for NVAX in front of Phase III RSV data in 1Q19. We would accumulate shares of NVAX prior to the RSV readout.”

According to TipRanks.com, Degeeter is a 5-star analyst with an average return of 16.7% and a 47.9% success rate. Degeeter covers the Healthcare sector, focusing on stocks such as Catalyst Biosciences Inc, Molecular Templates Inc, and Neon Therapeutics Inc.

Currently, the analyst consensus on Novavax is a Strong Buy with an average price target of $4.60.

See today’s analyst top recommended stocks >>

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 7.36M.

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. 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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts