BTIG analyst Thomas Shrader maintained a Buy rating on Novavax (NVAX – Research Report) yesterday and set a price target of $19.00.
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Thomas Shrader has given his Buy rating due to a combination of factors that highlight the potential of Novavax’s approach to vaccine development. Novavax’s focus on protein subunit vaccines, which are well-established in the industry, offers a familiar and potentially more acceptable option for those hesitant about newer vaccine technologies. This traditional approach, combined with strong efficacy results and the promise of more durable immunizations, positions Novavax favorably in the market.
Additionally, the collaboration with Sanofi underscores the credibility and potential reach of Novavax’s vaccines. The safety profile of Novavax’s Nuvaxovid, which shows fewer severe adverse events compared to mRNA vaccines, further enhances its appeal. The strategic partnership with Sanofi is seen as a pivotal move, providing a fresh start for Novavax and boosting investor confidence. Overall, these factors contribute to the optimistic outlook and the Buy rating assigned by Thomas Shrader.
NVAX’s price has also changed dramatically for the past six months – from $12.905 to $5.430, which is a -57.92% drop .