B.Riley Sees Increasing Certainty for Secondary COVID Players Novavax (NVAX) and Altimmune (ALT)

April 16, 2021 7:30 AM EDT
Get Alerts NVAX Hot Sheet
Price: $131.69 +8.83%

Rating Summary:
    8 Buy, 4 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 4 | New: 24
Trade Now! 
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.

B.Riley analyst Mayank Mamtani reiterated Buy ratings on Novavax (NASDAQ: NVAX) and Altimmune (NASDAQ: ALT) on the belief that there is increasing certainty around development-stage C-19 vaccine candidates on the heels of the two key recent updates from EUA-approved C-19 vaccines: 1) Johnson & Johnson's (NYSE: JNJ) C-19 vaccine rollout pause on 4/13 within the U.S. recommended by FDA and CDC based on safety concerns, and 2) Moderna's (NASDAQ: MRNA) Vaccines Day on 4/14 suggesting longer development and regulatory timeframes to mimic those of influenza.

The analyst believes that Novavax is the "only formidable first wave alternative to mRNA vaccines; remain aggressive buyers into imminent Ph. III U.S./Mexico trial data as well as ensuing global regulatory filings." He also "adjusted FCFF by a revenue-weighted approval probability factor that estimates the probability of each of Novavax's vaccine candidates gaining regulatory approval: 75% for Ph. III-stage NanoFlu and 90% for Ph. III-stage NVX-CoV2373, anticipating accelerated approval (EUA) in the mid 2Q time frame."

Altimmune "limits adenoviral vector exposure to nasal tract; fast approaching Ph. I readout to validate differentiated safety and immunogenicity profile. Recall, AdCOVID is an adenovirus-vectored vaccine encoding the receptor-binding domain (RBD) of the SARS-CoV-2 spike protein delivered intranasally with preclinical data suggesting generation of robust IgG-mediated systemic nAbs response and IgA-mediated mucosal immune response."

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 $203.93 yesterday.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments

Related Entities

FDA