Novavax Stock (NASDAQ: NVAX) is a clinical example of a Bio-Tech success story for investors as COVID-19 grippled the world in March 2020. Since then, NVAX stock has returned investors over 1,600% reaching heights of $331 a share in February 2021.
Since then, the stock has halved as Pfiser and Moderna, among others obtained an EUA from the United States FDA and corresponding countries.
The first movers stole the COVID-19 vaccine market early, however with the Omicron variant looming and the need for booster shots, companies like Novavax are getting a second look from Wallstreet. This article will dive into all the relevant Novavax Stock News that is driving the NVAX stock price higher.
Novavax Stock News Breakdown
Novavax prepares for a 2022 full of potential catalysts
Novavax have a busy few months ahead, with the company expected to submit a complete regulatory package to FDA for EUA approval by year end. The Bio-Tech has already filed for authorization with the WHO, United Kingdom, Singapore, New Zealand among others. In addition, it’s COVID-19 vaccine has received emergency authorization in Indonesia and the Phillipines, to date.
“This also marks the first regulatory authorization worldwide of a protein-based COVID-19 vaccine based on Phase 3 clinical data demonstrating efficacy and a favorable safety profile. This is a landmark moment for Novavax and our partner, Serum Institute of India, and it is the first of many authorizations that Novavax expects in the coming weeks and months for our vaccine globally.”said Stanley C. Erck, President and Chief Executive Officer, Novavax.
With multiple authorizations submitted and the FDA submission expected in December, Novavax has multiple price sensitive events scheduled over the coming months. Furthermore, with the Omicron Variant spreading, it may give Novavax a golden opportunity to enter into the market and dominate the booster industry.
Novavax Stock News: NVAX aims to tackle Omicron Variant in a two pronged strategy
On December 2, Novavax advised they are currently “evaluating its vaccine against the Omicron variant” and have initiated development of an Omicron-specific vaccine construct. Novavax aim to determine whether the immune responses induced by NVX-CoV2373, will offer similar cross-protection against Omicron as seen with other variants.
In fact, the company has already taken the intial steps required to manufacture an Omicron-specific spike and GMP manufacturing in a commercial facility is anticipated in January 2022. If the Novavax vaccine is effective against the Omicron Variant, it may be enough to swing the tides in the companies pursuit of emergency authorization.
The development is certainly exciting for shareholders, following a sluggish second half of the year with delays in their FDA submission.
B. Riley sets a $305 price target on Novavax Stock
B. Riley analyst Mayank Mamtani, recently reiterated the firms Buy rating on Novavax Stock with a $305 price target. The analyst is bullish on NVAX stock, as the omicron variant prompts the importance of a “highly effective” vaccine like NVX-CoV2373.
Novavax’s timing of authorisation filings, amid omicron spread, could boost NVX-CoV2373 uptake on a global scale, both as a primary vaccine and as a booster. Mamtani sees a 84.5% upside in NVAX stock, even after today’s rally.
However, the analyst is not alone. The average price target from Wallstreet institutions currently stands at $260 a share. The average target implies an upside on NVAX stock of 60.8% at the current trading price.
Novavax Stock News: NVAX Outlook
In summary, the forecasts provided from Wallstreet analysts maintain a bullish venom, implying an upside of 80%. With multiple Emergency Filings already completed and the upcoming FDA submission, Novavax will be preparing for a busy start to the new year.
Most of the upcoming catalysts are price sensitive, and could go either way adding an additional layer of volatility. The COVID vaccine market is extremely dynamic, and the world is still yet to hear more about the potential implications of the Omicron Variant. We will continue to update our viewers on Novavax Stock News as we move into 2022.
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The content above is strictly for informational purposes only and is not financial advice nor does it constitute a recommendation. Youth Investment Group has no liability for personal financial interests or investment decisions. You should make your own investment decisions based upon your own research and what you believe is best for you.