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HC Wainwright Says Non-mRNA COVID-19 Option Underappreciated

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  • HC Wainwright says safety concerns were noted for Novavax Inc's (NASDAQ: NVAX) COVID-19 vaccine, but the strength of data showed that benefit outweighs risks.

  • With a 21-0 vote (one abstention) for Emergency Use Authorization (EUA), moved the first traditional, protein-based COVID-19 vaccine closer to becoming available in the U.S.

  • HC Wainwright believes six cases of heart inflammation observed in clinical studies are notable. The VRBPAC did not conclude that it was a risk that outweighed the benefits.

  • As experience with the shot is limited, long-term safety remains to be established, and the analysts acknowledge that a causal relationship between myocarditis/pericarditis and vaccination needs further study.

  • Also Read: Why This Novavax Analyst Remains Bearish After COVID Vaccine Panel Vote.

  • Incidences of myocarditis/pericarditis ranging as high as 97.3 per million doses administered have been observed by the CDC for currently authorized COVID-19 vaccines from Pfizer Inc (NYSE: PFE) / BioNTech SE (NASDAQ: BNTX) and Moderna Inc (NASDAQ: MRNA).

  • "We believe the option to have a vaccine available that does not use messenger RNA (mRNA) technology is underappreciated," the analysts write.

  • It reaffirms projections of $4.4 billion and $5.8 billion in global sales in 2022 and 2023, respectively, and reiterates a Buy rating and a price target of $207.

  • Price Action: NVAX shares are up 8.25% at $51.46 during the market session on the last check Wednesday.

  • Photo by hakan german from Pixabay

Latest Ratings for NVAX

Date

Firm

Action

From

To

Mar 2022

HC Wainwright & Co.

Maintains

Buy

Jan 2022

Cowen & Co.

Initiates Coverage On

Outperform

Dec 2021

JP Morgan

Maintains

Neutral

View More Analyst Ratings for NVAX

View the Latest Analyst Ratings

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