Novavax (NVAX) PT Boosted at Piper Jaffray; 145% Upside Seen

Piper Jaffray analyst Edward Tenthoff reiterated an Overweight rating and boosted his price target on Novavax (NASDAQ: NVAX) price target of $10.50 (from $9.00) following an analyst day in NYC that focused on the company's clinical plans for its RSV and flu vaccine program.

Tenthoff commented, "Novavax announced that BARDA has exercised an option to provide an additional $100 million to fund seasonal and pandemic flu vaccine development over the next 2 years, as well as new positive Phase II data on the company's H7N9 avian flu vaccine + proprietary Matrix-M adjuvant. Management discussed the recent initiation of a Phase II maternal immunization study for the RSV vaccine and highlighted clinical plans for trials in children and the elderly. Novavax ended 2Q:14 with $209 million in cash."

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 $4.29 yesterday.

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