Jefferies Starts Novavax (NVAX) at Buy, $200 PT; Set to Become Major COVID-19 Vaccine Player

(Updated - December 14, 2020 8:02 AM EST)

Jefferies analyst Kelechi Chikere initiates coverage on Novavax (NASDAQ: NVAX) with a Buy rating and a price target of $200, suggesting ~60% upside.

The analyst commented, "We initiate on NVAX at Buy with a $200 PT – ~60% above the current price. NVAX has multiple Phase IIb/III COVID-19 vaccine studies reading out in early Q1. After strong phase I antibody data, we think the upcoming studies will be positive, potentially on par with mRNA vaccines. More important, with the recent shakeup in the vaccine landscape, NVAX could take share from some CV-19 vaccine producers."

Chikere notes that an $8 billion market cap, NVAX trades at a discount to its mRNA peers(MRNA at $58B, BNTXat $29B, CVAC at $18B).

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 $124.88 yesterday.

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