Should You Buy Novavax Stock After This Regulatory Win?
Vaccine maker (NASDAQ: NVAX) is having a good year. In May, the company announced a lucrative partnership with French biotech giant Sanofi (NASDAQ: SNY), sending its stock price soaring. Novavax has made quite a comeback for a company that raised doubts about its ability to stay in business just 18 months ago. But Novavax isn't done. The biotech just announced a regulatory win that has some investors excited. Let's find out whether Novavax's shares are worth buying, given these developments.
Though we are no longer in a state of emergency, COVID-19 is still here. Plenty of people, especially those who are most vulnerable, continue to inoculate themselves against the disease. Some vaccines that were initially granted emergency use authorization (EUA) in the U.S. are no longer available. That's the case with Johnson Johnson's vaccine. However, Novavax has remained a notable player in this field. The biotech recently said that its updated vaccine received EUA from the U.S. Food and Drug Administration (FDA) in time for the fall season.
It is also featured on the Centers for Disease Control and Prevention's list of recommended vaccines.
Source Fool.com
Novavax Inc. Stock
Currently there is a rather positive sentiment for Novavax Inc. with 5 Buy predictions and 2 Sell predictions.
As a result the target price of 21 € shows a very positive potential of 70.98% compared to the current price of 12.28 € for Novavax Inc..
