Novavax Stock May Soar 379%, According to Wall Street. Is the Stock a Buy Right Now?
(NASDAQ: NVAX) soared more than 2,700% early in the pandemic as investors bet on its ability to bring a coronavirus vaccine to market. The company followed through on that -- but not as quickly as planned. Novavax's product launched more than a year after those of rivals. This meant Novavax missed out on the biggest revenue opportunity, disappointing investors. As a result, the stock plummeted, and today is down 98% from its peak.
The vaccine maker has gone through difficult times, having to lower costs to ensure its survival, and Novavax also is in the middle of a dispute with one of its customers -- Gavi, an alliance that promotes access to vaccines. Still, five Wall Street analysts covering the stock forecast this down-on-its-luck stock may soar a whopping 379% in the coming 12 months. Does this make the stock a buy now? Or is Wall Street being too optimistic?
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Source Fool.com
Novavax Inc. Stock
With 7 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
As a result the target price of 26 € shows a very positive potential of 82.02% compared to the current price of 14.28 € for Novavax Inc..
