H.C. Wainwright analyst Vernon Bernardino raised his price target for Novavax to $12 from $10 saying the company's arrangement where Paragon Gene Therapy is a positive for its operational goals. The arrangement significantly reduces Novavax's operating costs, which involves an immediate 50% reduction beginning in July when the transaction is expected to close, Bernardino tells investors in a research note. He reiterates a Buy rating on the shares.

The World Health Organization's Technical Advisory Group on COVID-19 Vaccine Composition recommended the use of a monovalent JN.1 lineage COVID-19 vaccine as one approach to address the ongoing SARS-CoV-2 virus evolution, which is expected to lead to circulation of additional JN.1 descendant strains, Novavax stated. Novavax plans to be ready to deliver our JN.1 protein-based non-mRNA COVID-19 vaccine globally this fall. We have been developing and manufacturing this vaccine candidate at risk and are well positioned for the upcoming vaccination season, the company said. Reference Link