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Novavax Update Fails To Impress; This Is Now A 'Show Me Story'

Novavax Update Fails To Impress; This Is Now A 'Show Me Story'

Two analysts reiterated their Neutral ratings on Novavax, Inc. (NASDAQ: NVAX) after the company announced what it said was positive data for its phase 2 safety and immunogenicity trial of its RSV F vaccine.

Novavax was down 24.5 percent and trading at $1.14 at the time of writing, one day after climbing 29 percent after the company said it had identified a “path forward” for the efficacy study planned for 2018.

Cantor Fitzgerald analyst William Tanner and Chardan’s Keay Nakae reiterated their Neutral ratings and their price targets of $2 and $1.50 respectively.

Company Data Comes Under Scrutiny

Respiratory syncytial virus is a virus that causes infections of the lungs and respiratory tract. It's so common that most children have been infected with the virus by age 2. Respiratory syncytial (sin-SISH-ul) virus can also infect adults.

“While the company issued a press release announcing ‘Positive Topline Data’ from the study, we would point out that the objective of this study was to evaluate safety and immune response of different formulations and doses than what was used in the prior unsuccessful Phase 3 trial,” Nakae wrote in an analyst note.

“In fact, participants were enrolled and vaccinated outside of the RSV season. Hence, with respect to the ability of the vaccine to prevent or lessen the symptoms of RSV in elderly adults, there is no efficacy data from this study.”

Related Link: Is There Life Left In The Novavax Clinical Program?

Latest Ratings for NVAX

Sep 2019MaintainsBuy
Sep 2019MaintainsBuy
Sep 2019MaintainsOutperform

View More Analyst Ratings for NVAX
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Posted-In: Analyst Color Biotech News Price Target Reiteration Analyst Ratings Movers General Best of Benzinga


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