In a report released yesterday, Roger Song from Jefferies maintained a Buy rating on Vaxart (VXRT – Research Report), with a price target of $8.00.
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Roger Song has given his Buy rating due to a combination of factors that highlight Vaxart’s promising developments and market potential. The company’s second-generation construct has shown statistically significant improvements in norovirus blocking antibody assay titers compared to the first-generation construct, indicating potentially enhanced efficacy. This advancement suggests that Vaxart’s vaccine candidate could offer better protection against norovirus, a virus for which there is currently no approved vaccine, positioning the company as a leader in this niche market.
Moreover, Vaxart is actively pursuing partnerships to advance its vaccine development, with the potential for a Phase 2 study to commence as early as the second half of 2025. The market opportunity for an oral norovirus vaccine is substantial, with potential peak sales in the U.S. estimated at over $1 billion. The company’s ongoing discussions with potential partners and the promising clinical proof of concept for its second-generation construct further support the Buy rating, as these factors could significantly enhance Vaxart’s market position and financial performance.
VXRT’s price has also changed moderately for the past six months – from $0.613 to $0.504, which is a -17.78% drop .