Sean Lee CFA, an analyst from H.C. Wainwright, reiterated the Buy rating on Novavax. The associated price target remains the same with $11.00.
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Sean Lee CFA’s rating is based on Novavax’s strong financial performance and strategic business adjustments. The company reported third-quarter revenues that significantly exceeded consensus estimates, demonstrating robust financial health. Additionally, Novavax’s cash reserves are projected to sustain operations into the second half of 2027, providing a solid financial foundation.
Moreover, Novavax is strategically pivoting towards more streamlined operations and partnerships, which is expected to reduce operational costs significantly over the next few years. The company’s focus on licensing and milestone revenues, particularly from the development of Sanofi’s CIC vaccine, is anticipated to be a major revenue driver. The potential milestone payments and royalties from this partnership could significantly enhance Novavax’s financial position, supporting the Buy rating.
In another report released on October 24, Cantor Fitzgerald also initiated coverage with a Buy rating on the stock with a $18.00 price target.