In a report released today, Vernon Bernardino from H.C. Wainwright initiated coverage with a Buy rating on Vaxart Inc (VXRT) and a price target of $2. The company’s shares closed yesterday at $0.67, close to its 52-week low of $0.60.
Bernardino commented:
“Our $2 PT was derived by using a 17% weighted-average cost of capital for Vaxart shares to discount free cash flows from royalty payments to Vaxart from annual sales of the company’s norovirus and seasonal influenza vaccines, dividing them by our projected number of shares for each year to account for the effects of share dilution, and then factoring in a 2% terminal growth rate and 42% clinical program probability of success.”
According to TipRanks.com, Bernardino is ranked 0 out of 5 stars with an average return of -6.7% and a 28.9% success rate. Bernardino covers the Healthcare sector, focusing on stocks such as Innovus Pharmaceuticals Inc, Can-Fite BioPharma, and Seres Therapeutics.
Currently, the analyst consensus on Vaxart Inc is a Moderate Buy with an average price target of $2.
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The company has a one-year high of $7.60 and a one-year low of $0.60. Currently, Vaxart Inc has an average volume of 531.1K.
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Vaxart, Inc. operates as a clinical-stage biotechnology company, which engages in the development of oral recombinant vaccines. Its products include Influenza, Norovirus and Respiratory Syncytial Virus. The company was founded in 2004 and is headquartered in South San Francisco, CA.
