Novavax (NVAX) PT Lowered to $235 at Jefferies After Rollout Delay Concedes First Mover Advantage

May 11, 2021 10:42 AM EDT
Get Alerts NVAX Hot Sheet
Price: $232.76 -1.9%

Rating Summary:
    8 Buy, 4 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 7 | Down: 15 | New: 24
Trade Now! 
Join SI Premium – FREE

Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.

Jefferies analyst Kelechi Chikere lowered the price target on Novavax (NASDAQ: NVAX) to $235.00 (from $310.00) after the company reported Q1 results and updated timelines for its CV-19 vaccine.

The analyst reiterated a Buy rating expecting "a measured rollout in 2021 with a large pickup in the first half of 2022. Investors will be disappointed as it means sales in 2021 are likely to be modest, MRNA vaccines have more time to gain mindshare and more vaccines potentially enter the mkt. While recognizing the NT headwinds, we remain (+) on the mid to long-term outlook for NVAX's CV-19 vaccine prgm."

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

Jefferies & Co