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Why Novavax Shares Soared Today

TheMotleyFool

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Shares of Novavax (NASDAQ: NVAX) were soaring 14.9% as of 3 p.m. EDT on Monday. The big jump came after B. Riley FBR analyst Mayank Mamtani boosted his 12-month price target on the biotech stock to $61 per share from $53.

Investors should take analysts' price targets with a grain of salt. However, it's good to understand what influences analysts' thinking.

Image source: Getty Images.

Source Fool.com

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