NVAX - Novavax, Inc.
Chart Events
Commodity Channel Index
Performance Outlook
- Short Term2W - 6W
- Mid Term6W - 9M
- Long Term9M+
| Previous Close | 45.47 |
| Open | 46.10 |
| Bid | 0.00 x 800 |
| Ask | 0.00 x 1100 |
| Day's Range | 44.60 - 46.60 |
| 52 Week Range | 3.54 - 61.50 |
| Volume | 4,964,229 |
| Avg. Volume | 10,518,780 |
| Market Cap | 2.63B |
| Beta (5Y Monthly) | 0.82 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -3.83 |
| Earnings Date | May 11, 2020 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | 23.17 |
Fair Value
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‘It would be extremely optimistic’ to see a vaccine by the end of the year: John Hopkins Infectious Diseases Expert
U.S. cases for coronavirus reached more that 1.69 million, with at least 100,442 deaths from the virus. Dr. Amesh A. Adalja from Johns Hopkins’ Center for Health Security joins The Final Round to discuss the latest about the coronavirus, reopening the United States and the vaccine race.
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Novavax (NVAX) Stock Is a Winner, but How Much Higher Can It Go?
Volatility is nothing new in the healthcare sector. Nonetheless, vaccine player Novavax’s (NVAX) recent spectacular moon bound rally is on another level.The stock surged by another 147% this month, cumulatively accruing 1025% of gains in 2020. Which begs the far-fetched question: Has Novavax provided the coveted vaccine? Not yet, but it is taking some big strides towards addressing the issue.The latest share appreciation came following news that the coalition for Epidemic Preparedness Innovations (CEPI) will commit up to $388 million to further the development of Novavax’ vaccine candidate against COVID-19 (SARS-CoV-2), NVX-CoV2373. The investment is CEPI’s biggest to date and follows on from what now feels like a miniscule initial $4 million grant to Novavax.In tandem with setting the process of clinical trials in motion (with Phase 1/2 trial data expected by July), part of the funding will go towards ramping up production at various locations around the globe, with a target of matching the largest pharma vaccine developers’ production capacity.Based on Novavax’ vaccine track record, Ladenburg Thalmann analyst Michael Higgins is confident in the outcome, and predicts the Phase 1/2 results “will prove to be safe.” The results are key to his thesis of Novavax’ rNPV (risk-adjusted net present value) as the data will have an impact on the “scale up activities.”Higgins expounded, “While CEPI and Novavax are working collectively to generate the manufacturing capabilities to reach one billion doses in 2021, we are modeling the 100M doses are sold in 2021 at $10/dose, with 50% net margins. Mgt has not provided guidance on our assumptions; but given the low net manufacturing costs (especially on a large scale) we believe our assumptions are within reasonable expectations. We believe the low manufacturing margins contributed to CEPI’s decision, as it seeks to partner with innovators to treat as many global citizens as possible.”Overall, Novavax gets 100% support from the Street, as all 5 analysts tracked over the last 3 months rate the vaccine player a Buy. With an average price target of $49.20, the analyst fraternity projects upside of nearly 10%. (See Novavax stock analysis on TipRanks)To find good ideas for healthcare stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
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How Novavax is pulling out all the stops to produce a coronavirus vaccine by next year
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Novavax Seeks To Make 1 Billion Covid-19 Vaccine Doses; Top Analyst Ramps Up PT To $61
Novavax (NVAX) on Wednesday announced the acquisition of Praha Vaccines to help the late-stage biotech company produce over 1 billion doses of its experimental Covid-19 vaccine candidate starting in 2021.The U.S. company will buy the manufacturing plant for about $167 million in an all cash transaction. Starting in 2021, the plant is expected to provide an annual capacity of over 1 billion doses of antigen for the company’s vaccine candidate, also known as NVX‑CoV2373. As part of the transaction, about 150 employees with experience in vaccine manufacturing and support will join Novavax.“Manufacturing capacity is a critical component of our strategy to deliver a vaccine for the COVID-19 pandemic,” said Stanley C. Erck, President and CEO of Novavax. “This acquisition provides the vital assets required to produce more than 1 billion doses per year. We will continue efforts to expand antigen capacity in the U.S. and Asia, and increase production of Matrix-M to match antigen capacity at multiple sites globally.”NVX‑CoV2373 consists of a stable, prefusion protein antigen made using Novavax’s proprietary nanoparticle technology and includes its proprietary Matrix‑M adjuvant. On Tuesday, Novavax announced that it is starting human testing in its Phase 1/2 clinical trial of the vaccine candidate and is expecting results in July.The Praha Vaccines acquisition is supported by a funding arrangement with the Coalition for Epidemic Preparedness Innovations (CEPI), which will help the company to expand its manufacturing capacity.As part of the deal, the biotech company will work in collaboration with the Serum Institute of India (SII) to boost production levels at the Bohumil facility by the end of 2020.Novavax’s stock has jumped 10 times in value since the start of the year and was down 5.6% trading at $45.47 as of Wednesday’s close.Following the announcement, five-star analyst Mayank Mamtani at B. Riley FBR raised the stock’s price target to $61 from $53, reflecting another 34% upside potential in the shares over the coming year.Mamtani said that he now expects earlier global market entry of the 2373 vaccine candidate as well as “model additional non-dilutive funding to further accelerate development and commercialization activities.” The analyst maintained a Buy rating on the stock.“We view this as another encouraging development providing validation to the de-risked nature of NVAX's vaccine candidate, on the basis of the most extensive/differentiated preclinical data generated to date, and now reviewed closely by global scientific community residing with CEPI, WHO, and SII as well as U.S. agencies such as CDC, NIH-NIAID, and BARDA,” Mamtani wrote in a note to investors.The rest of Wall Street analysts covering the stock in the past three months join Mamtani in their recommendation to Buy the shares. The Strong Buy consensus is backed up by 5 unanimous Buy ratings. In view of the stock’s fast rally this year, the $49.20 average price target indicates a modest 8% upside potential in the coming 12 months. (See Novavax stock analysis on TipRanks).Related News: Novavax Begins Human Testing For Covid-19 Vaccine, Expects Results In July Novavax Spikes 31% on $384 Million Cash Injection for Vaccine Production Novavax Seeks To Raise $250 Million From Share Sale; Top Analyst Bumps Up PT More recent articles from Smarter Analyst: * 5G’s Significant Memory Content a Key Growth Driver for Micron, Says 5-Star Analyst * Apple Stores Opening Is a Bullish Signal for the Stock, Says Analyst * AutoZone Surprises with Business as Usual Quarter * 3 "Strong Buy" Penny Stocks That Offer Massive Potential Gains
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Novavax aims to make 1 billion COVID-19 vaccine doses after buying plant
The U.S. company said on Wednesday it would buy Czech Republic-based Praha Vaccines, a unit of India's Cyrus Poonawalla Group, which also owns Serum Institute, for $167 million in cash. Novavax is one of several companies in the race to develop a vaccine for COVID-19, the disease caused by the novel coronavirus, that has no current treatment or vaccine and has already killed about 350,000 people.
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Novavax Makes a $167 Million Purchase to Boost Its Coronavirus Vaccine Production Capacity
After acquiring a Czech company, the clinical-stage biotech will be able to churn out more than 1 billion doses of its SARS-CoV-2 vaccine candidate next year -- if it works.
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Coronavirus latest: Wednesday, May 27
On Wednesday, Novavax announced that it would be acquiring Praha Vaccines as a way to expand its coronavirus vaccine manufacturing capacity. Yahoo Finance’s Anjalee Khemlani joins The Final Round to break down the latest news about the coronavirus.
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ReutersNovavax buys Praha Vaccines for $167 mln to boost COVID-19 vaccine production
May 27 (Reuters) - Drug developer Novavax Inc on Wednesday acquired Praha Vaccines, a unit of India's Cyrus Poonawalla Group, for about $167 million as it looks to boost capacity to produce its COVID-19 vaccine candidate.
- GlobeNewswire
Novavax Expands Large-Scale Global Manufacturing Capacity
Novavax, Inc. (NVAX), a late-stage biotechnology company developing next-generation vaccines for serious infectious diseases, today announced the acquisition of Praha Vaccines a.s., part of the Cyrus Poonawalla Group, in an all cash transaction of approximately $167 million. The acquisition includes a biologics manufacturing facility and associated assets in Bohumil, Czech Republic. The facility is expected to provide an annual capacity of over 1 billion doses of antigen starting in 2021 for NVX‑CoV2373, Novavax’ COVID-19 vaccine candidate.
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Coronavirus latest: Tuesday, May 26
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U.S. stocks closed higher on Tuesday on optimism about the development of coronavirus vaccines and a revival of business activity, but the S&P 500 failed to hold above the key psychological level of 3,000 points. Stocks pared gains late in the session, after Bloomberg News reported the Trump administration was weighing a range of sanctions on Chinese officials, businesses and financial institutions, reinforcing comments earlier in the day from White House adviser Larry Kudlow.
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Covid Report: Why Vaccine News Sent A Field Of Drugmakers Rising
Novavax stock surged Tuesday after the biotech dosed the first participants in a test of its coronavirus vaccine. Meanwhile, Dow Jones giant Merck joined the fight against Covid-19.
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FOREX-Dollar weakens as investors' risk appetite ramps up
The U.S. dollar fell across the board on Tuesday as optimism about a potential coronavirus vaccine and a reopening world economy helped investors shrug off U.S.-China tensions, sapping demand for safe-haven assets. The U.S. Dollar Currency Index, which measures the greenback's strength against six other major currencies, traded down 0.75% at 98.99, after slipping as low as 98.891, its weakest since May 1. The S&P 500 index briefly rose above the 3,000 level for the first time since March 5, as U.S. biotech corporation Novavax Inc became the latest company to join the race to test coronavirus vaccine candidates on humans and enrolled its first participants.
- Benzinga
Novavax Analyst Sees Leading Contender In Coronavirus Vaccine Race
Novavax, Inc. (NASDAQ: NVAX), which last month landed CEPI funding for its coronavirus vaccine program, announced Tuesday the initiation of human studies of its vaccine candidate, NVX-CoV2373.The Novavax Analysts Cantor Fitzgerald analyst Charles Duncan maintained an Overweight rating on Novavax with a $45 price target. B Riley FBR Mayank Mamtani reiterated a Buy rating and $53 price target.NanoFlu Efficacy Data Has Positive Readthrough For Coronavirus Vaccine, Cantor Says Despite nine other vaccines in clinical trials and 114 more in preclinical development, the efficacy component of the clinical profile of NanoFlu combined with safety enhances the conviction for 2373 and the platform more broadly, Cantor analyst Duncan said in a Tuesday note.The NanoFlu efficacy data has increased the probability of success of the coronavirus vaccine program, which likely influenced the CEPI funding, the analyst said. "Though not without clinical and commercial risk, we see potential value creation with the COVID-19 program as the CEPI funding to support vaccine development efforts represents asymmetric risk/reward with no additional burn burden for shareholders."See also: The Week Ahead In Biotech: ASCO Presentations In The Spotlight Novavax Has Become A Frontrunner, B Riley FBR Says Novavax has rapidly advanced 2373 to become one of the leading vaccine candidates in clinical testing globally, B Riley FBR's Mamtani said in a note. The analyst expects external development, including vaccine program updates from rival companies, to cause continued volatility. This could also be a potential driver to a roughly 25% retracement from the May 15 high, which in turn presents an additional opportunity to accumulate shares ahead of the 2373 preliminary Phase 1 immunogenicity and safety data in July.In the interim, Mamtani said he expects Novavax to disclose incremental preclinical data from testing in enhanced disease models.The Phase 1/2 trial consists of two phases.A randomized, observer-blinded and placebo-controlled Phase 1 trial in which 130 healthy volunteers ages 18-59 are to be enrolled to evaluate 5-microgram and 25-microgram dose levels with or without the Matrix-M adjuvant in Australia.A Phase 2 portion is to be conducted in multiple countries.Scalability and safety could emerge as the core competitive advantage, according to B Riley FBR.The high-dose cohorts in the Phase 1 trials of CanSino's Ad5 vectored COVID-19 vaccine and Moderna Inc's (NASDAQ: MRNA) mRNA-1273 posed safety considerations for the two companies to prioritize relatively lower doses in subsequent stages of clinical testing, Mamtani said. NVAX Price Action At last check, Novavax shares were advancing 3.93% to $47.92. Related Link: Generic Threat To Amarin's Vascepa Overrides Positive Sentiment On Coronavirus Announcement Latest Ratings for NVAX DateFirmActionFromTo May 2020B. Riley FBRMaintainsBuy May 2020Cantor FitzgeraldReiteratesOverweight May 2020Cantor FitzgeraldMaintainsOverweight View More Analyst Ratings for NVAX View the Latest Analyst Ratings See more from Benzinga * The Daily Biotech Pulse: FDA Nod For Roche, Arbutus Releases Positive Readout For HBV Therapy, Moderna Announces .34B Common Stock Offering * The Week Ahead In Biotech: Aquestive Awaits FDA Decision, Earnings Flow Slows * The Daily Biotech Pulse: Gilead Signs Manufacturing Deal For Remdesivir, Bristol-Myers Gets Refuse-To-File Letter(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
