|Bid||8.32 x 1200|
|Ask||7.79 x 800|
|Day's Range||7.51 - 8.11|
|52 Week Range||3.54 - 48.80|
|Beta (5Y Monthly)||1.92|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 06, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||13.75|
CHICAGO/LONDON, Jan 24 (Reuters) - When a newly organised vaccine research group at the U.S. National Institutes of Health (NIH) met for the first time this week, its members had expected to be able to ease into their work. In just three months time, they likely will be testing the first of a number of potential experimental vaccines against the new SARS-like coronavirus that is spreading in China and beyond. "I told them, 'you are going to have your baptism of fire, folks'," Anthony Fauci, director of the U.S. National Institute of Allergy and Infectious Diseases within NIH, said of his inaugural address to the group this week.
(Bloomberg) -- The deadly coronavirus that has sparked stock rallies for a cluster of health companies developing drugs and screening tests reminds industry watchers of the frenzies that greeted other health scares -- and even the cryptocurrency craze.Small-cap companies including Novavax Inc., Cerus Corp., Co-Diagnostics Inc. and Inovio Pharmaceuticals Inc. have seen shares surge this week as investors gobble up statements about their plans to help combat the outbreak. Conversations with investors, analysts and executives show many people are skeptical these products will reach patients before years of research and development, if ever.“They just want to be able to say it in hopes that they’ll get a bump in the stock price, but I’d take anything like that with a grain of salt,” Matinas BioPharma Holdings Inc. Chief Executive Officer and co-founder Jerry Jabbour said in an interview. “It is a little bit like chasing Bitcoin and the fantastical nature of it, it captures the imagination.”Baird analyst Brian Skorney said it’s common for companies to issue press releases every few years about “their efforts to treat some potential pandemic.” Some of these releases are just “a launch pad for generating stock moves” rather than evidence of real clinical progress, he said.“The key to separating legitimate companies from hypesters is to see which ones are truly working with the U.S. government and other professional health organizations” and those that are “simply issuing well-timed press releases to take advantage of the situation,” said Brad Loncar, chief executive officer of Loncar Investments. He highlighted Moderna Inc.’s partnership with the National Institutes of Health and both it and Inovio getting grants from the public-private Coalition for Epidemic Preparedness Innovations.It is worth pointing out that companies like Inovio and Novavax have ridden the wave of viral emergencies before. Novavax has touted its platform for potential vaccines for Ebola, MERS and SARS, among others, while Inovio has been tied to the development of vaccines for Ebola, Zika and MERS.To contact the reporter on this story: Bailey Lipschultz in New York at email@example.comTo contact the editor responsible for this story: Catherine Larkin at firstname.lastname@example.orgFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Several public and private organizations are coming forward to develop vaccines for the new coronavirus by funding developmental programs.
Airlines, hotels, casinos and stocks linked to Wuhan, China, continue to fall as fear of the coronavirus deters international travel and all but halts activity in the virus epicenter. Alpha Pro Tech, Ltd. (NYSE: APT) manufactures masks and protective apparel — goods already in high demand in China. Lakeland Industries, Inc. (NASDAQ: LAKE) also produces protective clothes for high-risk workers, such as the medical professionals and public health officials exposing themselves to patients.
Shares of vaccine makers rose sharply again on Thursday, amid rising concerns about the outbreak of a new coronavirus in Wuhan, China that has led the authorities to quarantine the city of 11 million. Novavax Inx. , which developed a vaccine for MERS (Middle East respiratory syndrome) in 2013, gained 9% in early trade, while Moderna Inc. was up 2%. The company said it will work with the Coalition for Epidemic Preparedness Innovations (CEPI) to develop a vaccine to treat the new illness. Inovio Pharmaceuticals Inc. shares rose 9%, after that company said the CEPI has given it a grant of up to $9 million to develop a vaccine against the virus. NanoViricides , which rallied on the first reports of the news before falling back after it issued 2.5 million shares, soared 45%. The virus was first identified in December in Wuhan City, China. It has since sickened more than 599 people, including a U.S. resident who had traveled to Wuhan this month, according to the Centers for Disease Control and Prevention. China has reported 17 deaths. Health officials now believe the virus is spread human to human. The SPDR S&P Biotech ETF has gained 18% in the last 12 months, while the S&P 500 has gained 26%.
When investment bank Oppenheimer talks, investors listen -- or they should.One of the 10 top performing research firms tracked by TipRanks, 61% of Oppenheimer's stock picks have "worked" historically, producing positive returns for investors. In fact, on average, these picks have generated positive returns approaching 12%, and well ahead of the stock market's long term 10% average returns.And spread across a field of nearly 11,000 stock picks over more than a decade, that's no fluke.So when Oppenheimer announced on Wednesday that it's taken a good hard look at the healthcare industry, and come up with two stocks it's confident it can recommend buying -- and one it's pretty sure should be sold -- this is advice investors should give careful consideration.Let's find out what Oppenheimer has to say, beginning with:Regeneron Pharmaceuticals (REGN)Regeneron is one of a strange breed in biotech -- a company that actually makes money. 32 years in business, Tarrytown, NY-based Regeneron develops medicines to treat a wide array of illnesses, everything from age-related macular degeneration and diabetic retinopathy (Eylea) to atopic dermatitis (Dupixent) to atherosclerotic cardiovascular disease (Praluent) and locally advanced cutaneous squamous cell carcinoma (Libtayo).Oppenheimer analyst Hartaj Singh makes the case that Regeneron -- already doing $7.6 billion in annual sales and earning in excess of $2.1 billion annually -- is preparing to advance to the "next level of commercial and R&D growth" as competition to Eylea abates and the company intensifies its focus on growing Dupixent sales -- a $10 billion potential market.At the same time, Singh is impressed with Regeneron's "burgeoning internally generated pipeline" in 2020, which the analyst calls "best-in-class," as well as with management's "renewed focus on cost control" and planned $1 billion share buyback. Combined, these two moves promise to increase profits -- then divide them up among fewer shares outstanding, accelerating growth in earnings per share.As a result, Singh rates Regeneron stock "outperform" with a $450 price target, promising better than 25% upside from current prices. (To watch Singh's track record, click here)However, Wall Street isn’t completely sold on Regeneron. TipRanks analysis of 11 analysts shows a consensus Moderate Buy rating, with 4 analysts recommending Buy, while 7 recommending Hold. The average 12-month price target on the stock is $396.33, representing about 10% increase. (See Regeneron stock analysis on TipRanks)Novavax (NVAX)Oppenheimer's second stock pick takes us back to more familiar territory: biotech stocks that aren't earning money (at least not yet). Analyst Kevin DeGeeter's pick of vaccine specialist Novavax is clearly headlines-driven, and specifically, timed to align with recent news that the coronavirus outbreak that began in Chinese provincial capital Wuhan, has now arrived in America, with the first reported U.S. infection reported in Seattle Wednesday.As DeGeeter explains, the "outbreak of potent new strain of coronavirus infections" will remind investors "of the power of NVAX's flexible vaccine development infrastructure." And yet, it's not the primary reason DeGeeter likes Novavax in 2020. This is because DeGeeter expects it will take Novavax a good six to nine months to develop a vaccine effective against the new Chinese illness -- by which time 2020 will be basically over.Rather, this analyst views the "upcoming Phase III readout in March from NanoFlu recombinant hemagglutinin (HA) protein nanoparticle for protection against seasonal influenza as the primary value driver" for Novavax stock. Strong Phase II clinical trial results have DeGeeter thinking that Phase III results will be likewise positive, and perhaps enough so to convince the U.S. Food and Drug Administration to approve NanoFlu for sale as early as 2021. Once that happens, DeGeeter sees a strong chance that Novavax will sell itself to a high bidder.For this reason, DeGeeter is positing a rise in share price from $7.20 currently, to $13 a share by early 2021. Granted, an 80% return in 12 months' time may sound optimistic, but it could actually be conservative. (To watch DeGeeter's track record, click here)On Wall Street, the average target price among analysts tracking Novavax stock is $17.38 per share -- 34% more than what Oppenheimer is promising. (See Novavax stock analysis on TipRanks)Amarin Corp (AMRN)As much as Oppenheimer's analysts like Regeneron and Novavax, they are quite bearish on Amarin, a seller of prescription-only omega-3 fatty acid capsules for treating high triglyceride levels in patients. Oppenheimer comes to its "underperform" recommendation on Amarin by an interesting route.To start with, analyst Leland Gershell notes that AstroZeneca's discontinuation of a clinical trial for a product (Epanova) that would compete with Amarin's triglycerides drug (Vascepa) is a positive for Amarin stock. Although other competing treatments exist (Acasti Pharma's CaPre for example, and Matinas BioPharma's MAT9001), the removal of Epanova from the mix implies greater market share for Vascepa -- and an increased, $13 price target for Amarin stock.That being said, Gershell warns that "AMRN's opportunity to exit through acquisition [is] diminishing," which is to say the chances of the company finding a buyer willing to acquire Amarin at a premium valuation don't look as good as they once did. For this reason, despite raising its price target on the stock, Oppenheimer's still ends up thinking that Amarin, at a share price of nearly $21 (i.e. still 60% above what it thinks the stock is worth), remains overpriced and unlikely to outperform the market from here on out.In short, despite improved prospects for its marquee drug, the fact that the prospects for the company fetching a premium buyout prices are worse means Amarin merits a sell rating.All in all, Wall Street almost evenly split between the bulls and those choosing to play it safe. Based on 10 analysts tracked in the last 3 months, 5 rate Amarin stock a Buy, 4 say Hold, while 1 issues a Sell. Notably, the 12-month average price target stands at $29.88, marking a nearly 44% in return potential for the stock. (See Novavax stock analysis on TipRanks)
(Bloomberg) -- The promise of a vaccine for coronavirus has sparked rallies in a handful of stocks this week but past pandemics show there may be little to show for drugmakers’ efforts.Moderna Inc. became the latest stock to get a bump after saying it is working with the U.S. National Institutes of Health on a vaccine. The shares shot up as much as 11% on Wednesday to the highest in eight months. Novavax surged 71% on Tuesday, its biggest rally in more than 10 years, after the company said it was looking into a vaccine.While the timeline to start clinical trials has gotten faster since the SARS outbreak some 17 years ago, developing new vaccines is still time consuming. In the case of Moderna, an experimental vaccine could be available to test in humans within about three months, according to Anthony S. Fauci, director of the National Institute of Allergy and Infectious Diseases at the NIH.“Obviously that doesn’t mean, you’re going to have a vaccine ready for use in that time, because that’s just phase one for safety,” Fauci said in a phone interview, referring to the earliest stage of drug testing in people.Testing can also be affected by changes in need. The NIH started safety testing for a Zika vaccine in 2016 but a clinical trial is stalled and it will take another Zika outbreak to find out if it works or not, according to Fauci.“Zika went away it’s no longer determined to be a hot priority,” said William Schaffner, professor of infectious diseases at Vanderbilt University School of Medicine. “If you were the CEO of the vaccine manufacturer understandably you would dial back that effort.”In this latest outbreak, Novavax has focused on studying the virus’s genetic code rather than human or animal testing. “It’s hard to get scaled up and ready in a short period of time, but it’s possible,” said Gregory Glenn, the company’s head of research and development.Novavax developed an Ebola vaccine and had early results showing immune responses in 2015 but hasn’t pursued further development. Glenn blamed limited funding, saying “there’s no real market, the only market is a disaster.”The need for cash in the U.S. to be prepared for a pandemic was echoed by the Biomedical Advanced Research and Development Authority, within the HHS Office of the Assistant Secretary for Preparedness and Response.“We have ongoing partnerships with several developers of response-capable platforms for expedited development of medical products in each of these areas,” said Rick Bright, the agency’s director, in an email. “However, it is important to note that BARDA does not currently have adequate funding to initiate product development activities for this novel coronavirus or other emerging infection diseases.”“Although Congress authorized a public health emergency fund that could be used in such cases, funding for it has not been appropriated,” Bright said. “If funding becomes available, we would be positioned to be able to initiate activities quickly.”Merck & Co.’s Ebola vaccine finally received U.S. regulatory approval late last year after the drugmaker licensed it from NewLink Genetics Corp. in 2014.(Updates story published on Wednesday to add BARDA comments in ninth paragraph.)To contact the reporter on this story: Cristin Flanagan in New York at email@example.comTo contact the editor responsible for this story: Catherine Larkin at firstname.lastname@example.orgFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Some small vaccine developers that saw their stocks take off on Tuesday over growing concern about the new coronavirus are using the market interest to raise money.
Virus originating in Wuhan, China affected stock markets Tuesday, but one analyst said reactions were too strong.
Shares of Novavax Inc. tumbled 15% in premarket trading on Wednesday following a day in which growing concern about the new coronavirus sent shares of vaccine developers soaring. On Tuesday after the market closed, Novavax filed an S-1 seeking to sell more than $100 million of its stock. The clinical-stage biotechnology company, which is developing a flu vaccine, told analysts it is developing clones from the new coronavirus as part of the first steps in developing a vaccine to treat the newly identified virus. "We don't expect Novavax will run human trials without non-dilutive government funding," Ladenburg Thalmann's Michael Higgens wrote in a note. "The timing for such support in our view depends on how severe and uncontrolled the 2019-nCoV becomes." Novavax in 2013 had developed a vaccine for Middle East respiratory syndrome (MERS), which is also a coronavirus. This coronavirus was first identified in Wuhan City, China, and has infected more than 300 people and killed at least six more. The Centers for Disease Control and Prevention said Tuesday that a U.S. resident who had traveled to Wuhan and is now in Washington state is currently being treated. He is the first U.S. resident to be diagnosed with the virus. Novavax's stock has fallen 75% over the last year, while the SPDR S&P Biotech exchange-traded fund has climbed 13%.
Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech Stocks Hitting 52-week highs on Jan. 21) Abbott Laboratories (NYSE: ABT ) Apellis Pharmaceuticals ...
Novavax, Inc. (NASDAQ: NVAX) said Tuesday afternoon it has initiated development of a vaccine candidate for the Wuhan-version of the coronavirus that has spread from China to other Asian nations and on Tuesday was confirmed to have infected at least one person in the United States. The company said it has extensive history working with coronaviruses and developing vaccine candidates, including its work on the MERS and SARS coronaviruses. "Using Novavax’ recombinant nanoparticle vaccine technology, the company expects to develop a vaccine candidate from the genetic sequence of the Wuhan coronavirus," the company said in a statement.
Shares of small vaccine makers gained in trading on Tuesday morning over growing concerns about the spread of a new coronavirus in China that has infected at least 200 people.
Benzinga Pro's Stocks To Watch For Tuesday Halliburton (HAL) - Reported better-than-expected Q4 earnings and sales. The stock was up 1% ahead of the open. L Brands (LB) - Shares traded up more than 2% ...
Shares of Novavax Inc. rallied 60% in premarket trading on Tuesday on heavy volume. The biotechnology company is developing vaccines, such as NanoFlu, its experimental season flu vaccine that is in late-stage clinical trials. Novavax said last week that it had received a fast-track designation from the Food and Drug Administration, an announcement that pushed up shares by 20%. Investors are paying close attention to the spread of a new coronavirus in Wuhan City, China. The company's stock is down 86% over the last 52 weeks, while the S&P 500 has gained 26%.
It would be an understatement to say that pharmaceutical company Novavax Inc. did not have a great 2019. The Gaithersburg company saw its ResVax vaccine for respiratory syncytial virus fall short in yet another late-stage clinical trial — its second such miss in three years — causing its stock price to plummet and, at one point, earning it a delisting threat from Nasdaq. The Food and Drug Administration proceeded to order up another late-stage clinical trial before it would consider ResVax, followed by a similar order by an agency counterpart abroad, the European Medicines Agency.
The FDA bestows a Fast Track Designation on Novavax's (NVAX) influenza vaccine candidate NanoFlu for adults aged 65 years and older. Shares rally.
If NanoFlu gets approval, it could mean big business for Novavax in the $4 billion global flu vaccine market.