Why Novavax Shares Are Jumping Today
Shares of clinical-stage vaccine developer Novavax (NASDAQ: NVAX) are on the rise today, up 10.7% as of 10:22 a.m. EST. This double-digit move higher appears to be the result of two unrelated catalysts.
First, the deadly coronavirus that originated in China but has since spread to several other Asian countries, as well as to the United States, is likely playing a role. Novavax announced earlier this week that it is developing a vaccine indicated for the Wuhan strain of the virus. Second, Oppenheimer analyst Kevin DeGeeter released a positive note on Novavax's stock this morning, calling for the company's share price to hit $13 by 2021. DeGeeter's price target implies that Novavax's stock could appreciate 70% over the next 12 months.
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Source Fool.com
