Why Novavax Stock Is Soaring Today

Shares of flu vaccine researcher Novavax (NASDAQ: NVAX) shot up 13.7% in early trading Tuesday after a positive analyst note out of Citigroup predicted "strong market opportunities" for the company's new NanoFlu nanoparticle-based flu vaccine. At last report, however, Novavax shares were spotted retracing their gains -- but still up 6.9% as of 11:40 a.m. EDT.

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Citigroup gave its stamp of approval to Novavax stock, calling NanoFlu "underappreciated by the Street." According to the analyst, Novavax shares that currently trade for just $1.09 apiece could shoot up as high as $1.60 per share within a year.

Source: Fool.com