How Bad Is This News for Novavax?
In early pandemic days, (NASDAQ: NVAX) shares soared as investors bet on the company's ability to bring a coronavirus vaccine to market. But as the biotech fell behind in the race and commercialized its vaccine later than expected, the shares suffered. Earnings also weren't as bright as investors had hoped, due to this late market entrance. Moving forward, the company aimed to bring a potentially game-changing product to market: A combined coronavirus and flu shot.
Rival Moderna is also working on such a vaccine, but with almost half of the U.S. adult population often going for an annual flu shot, the combined flu/COVID vaccine market offers potential for more than one participant. However, recent news represents a setback for Novavax's combined vaccine candidate. The U.S. Food and Drug Administration (FDA) ordered a temporary halt to the program and to the company's stand-alone vaccine candidate this past week -- and Novavax shares slid almost 20% in one trading session.
How bad is this news for Novavax? Let's find out.
Source Fool.com
Novavax Inc. Stock
Currently there is a rather positive sentiment for Novavax Inc. with 8 Buy predictions and 3 Sell predictions.
As a result the target price of 11 € shows a very positive potential of 60.12% compared to the current price of 6.87 € for Novavax Inc..
