On the fly News and insights, exclusive to thefly.com

NVAX

Novavax

$157.30 /

+1.13 (+0.72%)

06:38
08/05/20
08/05
06:38
08/05/20
06:38

Ladenburg downgrades Novavax to Sell with $105 target after vaccine data

Ladenburg Thalmann analyst Michael Higgins downgraded Novavax to Sell from Neutral with a $105 price target after the company presented Phase 1 data for its COVID-19 vaccine NVX-CoV2373. The stock in premarket trading is up 17%, or $26.83, to $184.00. The vaccine induced "robust" immune responses against the spike protein that exceeded convalescent sera levels from patients infected with or recovering from COVID-19 infection, Higgins tells investors in a research note. However, Novavax is one of the last companies in "Operation Warp Speed" to present its initial data and its current valuation overestimates the revenue and net profit opportunity, contends the analyst.

NVAX Novavax
$157.30 /

+1.13 (+0.72%)

08/05/20 Ladenburg
Novavax downgraded to Sell from Neutral at Ladenburg
08/05/20 JPMorgan
Novavax upgraded to Overweight from Neutral at JPMorgan
07/16/20 B. Riley FBR
Novavax price target raised to $155 from $106 at B. Riley FBR
07/16/20 H.C. Wainwright
Novavax price target raised to $132 from $101 at H.C. Wainwright

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.