Cantor Fitzgerald analyst William Tanner reiterated a Hold rating on Novavax (NVAX) today and set a price target of $2. The company’s shares opened today at $1.82.
Tanner commented:
“: We reiterate the Neutral rating and $2 PT for NVAX stock. We believe the company could be well positioned to bring important new products to prevent infectious diseases with vaccine candidates for the RSV, ResVax, and seasonal influenza, NanoFlu. If the data support the belief that the products are safe and effective and approvable by regulators, we believe investors will turn their attention to how the assets will be commercialized. Key to arriving at a fair stock value estimate, in our view, is understanding what additional capital resources NVAX may need (and dilution) as well as commercialization assistance from a partner (and revenue and expense offsets).”
According to TipRanks.com, Tanner is a 2-star analyst with an average return of -0.1% and a 40.6% 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 Moderate Buy analyst consensus rating for Novavax with a $6 average price target.
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Based on Novavax’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $44.57 million. In comparison, last year the company had a GAAP net loss of $44.61 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.
