UPDATE: JPMorgan Upgrades Novavax (NVAX) to Overweight

August 5, 2020 4:40 AM EDT
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Price: $237.54 +0.11%

Rating Summary:
    8 Buy, 4 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 7 | Down: 15 | New: 24
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(Updated - August 5, 2020 4:59 AM EDT)

(updating comment)

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."

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 $172.00 yesterday.

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