Shares of biotech stock $Novavax (NVAX)$ could soar 314%！
Shares of biotech stock $Novavax (NVAX)$ could soar, at least according to one Wall Street analyst. Based on the highest price target currently set by analysts, this unique stock is set to soar 314%.
A sharp drop in the stock market can provide an ideal opportunity for investors to pounce.
Wall Street analysts believe that shares of battered companies will soar in the coming quarters and years.
We all know that sharp declines in the stock market create important opportunities for investors. This fact is not being ignored by Wall Street analysts or their financial firms. Based on the highest price target currently set by analysts, this unique stock is set to soar 314%.
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Shares of biotech stock $Novavax(NVAX)$ could soar, at least according to one Wall Street analyst. While the company's stock has fallen more than 97% from its all-time high during the pandemic, H. C. Wainwright analyst Vernon Bernardino thinks the company's stock will eventually reach $35 a share. If accurate, Bernardino's forecast would imply a more than fourfold increase in $Novavax(NVAX)$’s stock price.
Novavax (NVAX) Q1 earnings report 2023
$Novavax(NVAX)$ rose to prominence during the pandemic as one of the few drug developers to successfully produce a COVID-19 vaccine. Covovax (known overseas as Nuvaxovid) is one of only three COVID-19 vaccines to achieve 90% vaccine efficacy in late-stage clinical trials.
$Novavax(NVAX)$ seemed poised for big success, but management stumbled. Multiple delays in the emergency use authorization application, combined with production delays, caused Novavax to miss the opportunity for the initial vaccine, and now that the worst of the pandemic has passed, the future of Novavax's new crown vaccine opportunity is worrying.
Worse, it's unclear whether Novavax has enough money to see it through 2023. The issue is related to $Novavax(NVAX)$ ending its contract vaccine purchase agreement with Gavi in November. Gavi is seeking a $700 million refund, but it will ultimately be up to an arbitrator to decide. On its own operations, Novavax had cash and cash equivalents of $625 million in the quarter ended March, down from $1.34 billion three months earlier.
But it's not all bad news for $Novavax(NVAX)$. The company's 2023 sales forecast far exceeded Wall Street expectations, and management outlined a plan to reduce the company's selling, general, and administrative expenses by a combined 40% to 50% by 2024 compared to 2022.
In addition, $Novavax(NVAX)$is expected to offer an updated COVID-19 vaccine in the fall, with the company reporting positive results from Phase 2 trials of a COVID-19/flu combination vaccine as well as a stand-alone flu vaccine and a high-dose COVID-19 vaccine. Novavax's vaccine development platform is attractive and effective.
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For me, $诺瓦瓦克斯医药(NVAX)$ is a stock that could be worth considering for investors who are looking for a company with long-term growth.
I remembered that $诺瓦瓦克斯医药(NVAX)$ 's COVID-19 vaccine has not been as widely adopted as some of the other vaccines on the market.
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NVAX is not my best choice to buy.