02.06.2020 Novavax Daily Analysis

02.06.2020 Novavax Daily Analysis

Novavax Inc (NVAX) 52.82usd +6.78 +14.73%                            Today Novavax is trading on 52.82usd and it went up with almost 15 percent. This big jump came when  B.Riley FBR analyst Mayank Mantani increased his twelve-month price target  The big jump came after B. Riley FBR analyst Mayank Mamtani boosted his 12-month price target on the biotech stock from 53 USD  to 61 USD. Mamtani is positive about the announcement that was made by Novavax about acquiring Praha vaccines which will enable the small biotech to go head to head with larger drugmakers who are also racing to develop a COVID-19 vaccine. He also views Novavax's experimental COVID-19 vaccine as one of the most promising candidates in development. Mamtani stated that Novavax's NVAX‑CoV2373 has "the most extensive/differentiated preclinical data generated to date. Novavax's acquisition of Czech-based Praha Vaccines for $167 million should enable the company to produce more than 1 billion doses of its COVID-19 vaccine candidate next year. The company is paying for this acquisition with the $388 million investment that Coalition for Epidemic Preparedness Innovations (CEPI) is making to fund its COVID-19 vaccine program.