Ladenburg Thinks Novavax’s Stock is Going to Recover

By Austin Angelo

Ladenburg analyst Michael Higgins maintained a Buy rating on Novavax (NVAXResearch Report) today and set a price target of $2. The company’s shares closed yesterday at $5.37, close to its 52-week low of $5.34.

Higgins commented:

“We don’t expect Novavax to run a an NDA filing. Foundation continue, as the global non-profit reportedly remains interested in getting ResVax approved in low and middle-income countries. The company has yet to identify a specific reason for the efficacy differences in the PREPARE trial between the higher income countries and the low-income countries.”

According to TipRanks.com, Higgins ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -7.7% and a 29.8% success rate. Higgins covers the Healthcare sector, focusing on stocks such as Rhythm Pharmaceuticals Inc, Achieve Life Sciences Inc, and Melinta Therapeutics Inc.

Novavax has an analyst consensus of Moderate Buy, with a price target consensus of $18.36.

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The company has a one-year high of $51.60 and a one-year low of $5.34. Currently, Novavax has an average volume of 11.35M.

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Novavax, Inc. is a late-stage biotechnology company, which focuses on the discovery, development and commercialization of vaccines to prevent infectious diseases. It produces vaccine candidates to respond to both known and emerging disease threats by using the proprietary recombinant nanoparticle vaccine technology.