In a report released today, Vernon Bernardino from H.C. Wainwright reiterated a Buy rating on Novavax (NVAX), with a price target of $12. The company’s shares closed on Friday at $5.86, close to its 52-week low of $4.64.
Bernardino commented:
“We derived our price target of $12 using DCF methodology with a 30% discount rate, 2% terminal growth rate, and a clinical program probability-of-success of 72%. 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.”
According to TipRanks.com, Bernardino is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -6.6% and a 28.7% success rate. Bernardino covers the Healthcare sector, focusing on stocks such as Innovus Pharmaceuticals Inc, Can-Fite BioPharma, and Seres Therapeutics.
Novavax has an analyst consensus of Moderate Buy, with a price target consensus of $18.75, representing a 220.0% upside. In a report released today, Ladenburg Thalmann & Co. also reiterated a Buy rating on the stock with a $42.50 price target.
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The company has a one-year high of $51.60 and a one-year low of $4.64. Currently, Novavax has an average volume of 5.86M.
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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.
