H.C. Wainwright lowered the firm’s price target on Novavax to $19 from $35 and keeps a Buy rating on the shares. The company’s Q4 showed progress with its goal of becoming a leaner and financially strong organization, the analyst tells investors in a research note. The firm is also positive on the Gavi settlement, saying it significantly removed operational uncertainty, which has been a long-term overhang on Novavax shares.
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