Will Novavax Stock Hit $300 in 2022?
This year could be a big one for Novavax (NASDAQ: NVAX). The biotech company fell behind in the coronavirus vaccine race last year. It delayed its regulatory submission several times due to manufacturing issues. But here's the good news: Today, it's reached the final stretch. Novavax just completed its data submission to the U.S. Food and Drug Administration (FDA). That means the company can apply for Emergency Use Authorization (EUA) as early as a month from now.
Meanwhile, Novavax stock price momentum has slowed from its 2,700% gain in 2020. Last year, it climbed 28%. Today, the shares trade for about $140. That's well below Wall Street's average 12-month share price forecast of $268. And Wall Street's highest forecast calls for a price of $305. Now the question is, can Novavax reach such levels this year? Let's find out.
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Source Fool.com
