UPDATE: JPMorgan Upgrades Novavax (NVAX) to Overweight
- Wall Street closes rollercoaster week sharply lower
- Invesco (IVZ) Reportedly in Talks to Merge With State Street's (STT) Asset Management Business, Citi Sees More Cons than Pros
- FDA Votes "No" on Pfizer (PFE) Booster for 16+ Age Group, 2 Yes 16 No
- Jefferies Raises Price Targets on Alphabet (GOOGL) and Facebook (FB) as They Are Still Inexpensive Relative to Growth, Reiterates Snap (SNAP) as a Best Growth Idea
- Tesla (TSLA) Could Deliver 900K EV Units This Year and 1.3M in 2022 - Wedbush
JPMorgan analyst Eric Joseph upgraded Novavax (NASDAQ: NVAX) from Neutral to Overweight with a price target of $275.00 (from $105.00).
The analyst comments "We are Overweight rated on NVAX shares. Post recent phase 1 results with NVX-CoV2373, we view immunogenicity data for the COVID-19 vaccine candidate as potentially best-inclass. Notwithstanding a number of outstanding questions with respect to phase 3 efficacy across the landscape, we believe implied valuations of phase 2 stage COVID-19 vaccine candidates to date relatively favor NVAX shares over the near-term. Elsewhere in the pipeline, we view NanoFlu to be clinically de-risked into commercialization, serving as a valuation backstop in the mid-to-high teens."
Shares of Novavax closed at $172.00 yesterday.
You May Also Be Interested In
- Las Vegas Sands (LVS) Downgraded to Hold at Jefferies on Limited Upside Potential
- Trustpilot Group PLC (TRST:LN) PT Raised to GBP4.40 at Berenberg
- After a Series of Video Game Release Delays, BMO Downgrades Take-Two (TTWO) to Market Perform
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Hot Comments, Hot Upgrades, Upgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!