B.Riley Financial analyst Mayank Mamtani reiterated a Buy rating on Novavax (NVAX – Research Report) today and set a price target of $15.00. The company’s shares opened today at $9.01.
According to TipRanks, Mamtani is an analyst with an average return of -22.8% and a 22.62% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Novavax, Agenus, and Arrowhead Pharmaceuticals.
Currently, the analyst consensus on Novavax is a Moderate Buy with an average price target of $25.00, a 177.47% upside from current levels. In a report released on August 10, H.C. Wainwright also reiterated a Buy rating on the stock with a $35.00 price target.
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Based on Novavax’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $424.43 million and a net profit of $58.01 million. In comparison, last year the company earned a revenue of $185.93 million and had a GAAP net loss of $510.49 million
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Novavax, Inc. is a late-stage biotechnology company, which focuses on the discovery, development and commercialization of vaccines to prevent infectious diseases. It produces vaccine candidates to respond to both known and emerging disease threats by using the proprietary recombinant nanoparticle vaccine technology. Its vaccine candidates include ResVax and NanoFlu. It also develops immune stimulating saponin-based adjuvants through its wholly owned Swedish subsidiary, Novavax AB. The company was founded in 1987 and is headquartered in Gaithersburg, MD.
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