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Fly News Breaks for February 26, 2020
NVAX
Feb 26, 2020 | 12:08 EDT
Ladenburg Thalmann analyst Michael Higgins reiterates a Buy rating on Novavax with a $27.50 after the company announced plans to begin testing a novel COVID-19 vaccine in humans in May or June. The stock in midday trading is up 18%, or $1.41, to $9.36. The news today is earlier than expected, as Novavax only began working on this vaccine January 10, when the World Health Organization announced the genetic sequence of this novel coronavirus, says the analyst. He believes investors are right to buy up Novavax shares today, saying the company's "unique" flu vaccine technology leverages both its insect-based vaccine platform and its novel Matrix-M adjuvant. Higgins highly doubts this flu outbreak goes away largely on its own since some patients with the prior viruses were highly symptomatic and quarantined, while many developing COVID-19 are contagious before being sick enough to be quarantined.
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