Novavax, Inc. (NASDAQ: NVAX) is having a great start to the trading session this morning, and for good reason. The company was the center of an analyst upgrade, exciting investors and sending the stock screaming for the top. Today, we’ll talk about:
- The upgrade;
- what we’re seeing from NVAX stock as a result; and
- what we’ll be watching for ahead.
NVAX Rockets On Upgrade
As mentioned above, Novavax is having an incredibly strong start to the trading session this morning after the company was the center of an analyst upgrade. In a note issued to its investors early this morning, Piper Jaffray raised the rating on the stock from “neutral” to “overweight”. There’s good reason for the upgrade as well.
NVAX is a company that is working on several vaccines, one of which is in the midst of late stage clinical trials. At the moment, the company’s core candidates include its RSV vaccine, NanoFlu and its Ebola vaccine. All of these potential treatments are in the midst of clinical trials, with Ebola in Phase 1, NanoFlu in Phase 2 and the RSV vaccine in Phase 3 clinical trials.
Perhaps more importantly, NVAX has demonstrated strong results across all of its candidates. Considering this, and the fact that the RSV vaccine is in the midst of Phase 3 trials, the company could go from clinical stage to commercial stage in a relatively short period of time, opening the door to potentially incredible growth down the line.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. In the case of Novavax, the news proved to be overwhelmingly positive. After all, Piper Jaffray is one of the most trusted analyst firms on the Street. So, when they have something to say, investors tend to listen, and right now, they’re saying that this stock has some potential. So, it’s not surprising to see that excited investors are pushing the stock on a run for the top. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:00), NVAX is trading at $1.88 per share after a gain of $0.16 per share or 9.30% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on NVAX. In particular, we’re interested in following the story surrounding the company’s continued work to bring its various vaccine candidates to market as they are all yielding incredibly positive results. We’ve got a keen eye on the RSV vaccine however, as it is the furthest down the development line. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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