Wall Street Predicts That This Stock Could Skyrocket by 65%: Time to Buy?
It's been a great year for (NASDAQ: NVAX). The biotech is up by 150% since January. However, analysts see even more upside for the vaccine maker. The consensus estimate of $20 a share implies a 65% increase over its current stock price, not too shabby for a company that, not too long ago, seemed to be not too far from bankruptcy. Can Novavax maintain its momentum? Let's find out if the biotech can hit the street's price target within the next 12 months.
Novavax recently signed a partnership with Sanofi that granted the latter the right to market Nuvaxovid, Novavax's coronavirus vaccine, in most countries worldwide starting in 2025. Until then, it is business as usual for the mid-cap biotech. Novavax recently filed applications with regulatory authorities in the U.S. and Europe for an updated COVID-19 vaccine for the upcoming 2024-2025 season.
Though this market isn't nearly as large as it was two years ago -- and it is still dominated by Moderna and Pfizer -- Novavax will still generate some sales from it, provided its updated candidate earns approval. Elsewhere, Novavax is advancing new vaccines through the pipeline. It plans to start phase 3 studies for a combination coronavirus/flu vaccine and a stand-alone flu vaccine in the fourth quarter. Novavax expects data from these studies in mid-2025, less than a year from now.
Source Fool.com
Novavax Inc. Stock
We see a rather positive sentiment for Novavax Inc. with 6 Buy predictions and 2 Sell predictions.
With a target price of 21 € there is a hugely positive potential of 87.57% for Novavax Inc. compared to the current price of 11.2 €.
