Vernon Bernardino, an analyst from H.C. Wainwright, reiterated the Buy rating on Novavax (NVAX – Research Report). The associated price target remains the same with $19.00.
Vernon Bernardino has given his Buy rating due to a combination of factors that highlight Novavax’s strategic positioning and potential for growth. The company is transitioning its focus from COVID-19 vaccine commercialization to expanding its pipeline, leveraging its proprietary Matrix-M adjuvant for lucrative licensing agreements. A significant development is the co-exclusive licensing agreement with Sanofi, which could bring in payments totaling $1.2 billion, providing Novavax with multiple options for pipeline expansion and strategic partnerships.
Additionally, Novavax’s clinical-stage pipeline is well-positioned for advancement, with ongoing Phase 3 evaluations of its COVID-19 and influenza combination vaccine. The company is also progressing with early-stage vaccine candidates targeting significant market opportunities, such as RSV combinations and shingles. Financially, Novavax reported a strong cash position, sufficient to fund operations for two years, and is expected to achieve operating profitability by 2027. These factors collectively underpin Bernardino’s Buy rating and the $19 price target for Novavax’s stock.
According to TipRanks, Bernardino is a 4-star analyst with an average return of 5.1% and a 24.80% success rate. Bernardino covers the Healthcare sector, focusing on stocks such as Novavax, Cardiol Therapeutics, and Aethlon Medical.
In another report released yesterday, BTIG also initiated coverage with a Buy rating on the stock with a $19.00 price target.