TD Cowen raised the firm’s price target on Novavax (NVAX) to $10 from $5 and keeps a Hold rating on the shares. The firm said its blockbuster licensing deal with Sanofi (SNY) provides $570M to Novavax upfront, $700M more in development milestones for its COVID monotherapy, and potential flu combo vaccines licensing deal for the company’s adjuvant.
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