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 $2.27.
Degeeter observed:
“On 1/9/2019, NVAX presented updates on the NanoFlu and ResVax programs. Important takeaways include: 1) clear signs of NanoFlu potency against B strains, which supports broad coverage against flu and 2) confirmation NanoFlu was as good or better than FluZone HD against all three comparator strains as measured by HAI titers. In our view Phase II data suggests quadrivalent NanoFlu has potential to replace the current standard of care for elderly, trivalent FluZone HD, based in large part on potency against A strains. Separately, we remain positive on expectations for Phase III ResVax (RSV vaccine) for maternal vaccination with data expected in 1Q19. We would look to accumulate shares of NVAX prior to the ResVax data. $4.00 PT.”
According to TipRanks.com, Degeeter is a 5-star analyst with an average return of 18.0% and a 56.2% 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 $3.38, which is a 48.9% upside from current levels. In a report issued on January 4, Ladenburg also maintained a Buy rating on the stock with a $3.50 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 7.75M.
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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.
