$Novavax(NVAX)$3 COVID-19 Stocks With Monster Upside of Up to 355%, According to Wall Street
Novavax: Implied upside of 257%
The first COVID-19 play that offers drool-worthy upside, at least according to one Wall Street analyst, is biotech stock Novavax ( NVAX -13.36% ). Despite a $50 price-target reduction in February, B. Riley analyst Mayank Mamtani still believes Novavax can reach $265 a share. This represents a cool 257% upside from where shares ended last week.
Mamtani's aggressive price target is based on a few factors. For instance, he believes that concerns over Novavax's near-term manufacturing struggles are overblown. Mamtani explained months ago that Novavax was nearing its monthly manufacturing target of around 150 million doses, and would likely be exporting more than 100 million monthly doses out of India, where it's working with the Serum Institute of India to produce NVX-CoV2373 vaccines.
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