Novavax (NVAX): Analyst Day Recap - FBR

November 11, 2016 8:00 AM EST
Get Alerts NVAX Hot Sheet
Price: $1.37 -3.52%

Rating Summary:
    4 Buy, 7 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
Trade NVAX Now!
Join SI Premium – FREE

Find out which companies are about to raise their dividend well before the news hits the Street with's Dividend Insider Elite. Sign-up for a FREE trial here.

FBR Capital analyst, Vernon Bernadino, reiterated his Outperform rating on shares of Novavax (NASDAQ: NVAX) after the company hosted an analyst day to review 3Q16 operations and provide an update on its clinical development plans.

The RESOLVE RSV vaccine Phase III trial did not meet its efficacy objectives. An analysis of all RESOLVE data was undertaken to determine a path forward, resulting in a decision to conserve financial resources (immediate 30% work-force reduction), continue the PREPARE Phase III trial, and initiate a small dose–ranging Phase II trial in older adults (60 years and older) to gain information for designing a future pivotal trial. We think data, conclusions, and rationale presented were compelling, particularly including a thorough understanding of lessons learned from RESOLVE that defined what additional information is required and how to obtain it.

The analyst believes the 84% pullback since the announcement represents a disconnect with identification of this forward path and, therefore, a strong buying opportunity.

No change to the price target of $12....yes $12.

For an analyst ratings summary and ratings history on Novavax click here. For more ratings news on Novavax click here.

Shares of Novavax closed at $1.40 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments

Add Your Comment