sa<> Novavax: Big Pharma Wants RSV Bad Aug 18 2013, 07:40 | about: NVAX
Author<Disclosure: I am long NVAX. (More...)
In my last article on Novavax Inc. (NVAX), I pointed readers toward a coming catalyst in the stock that didn't present itself on the FDA calendar but rather on Novavax's own schedule: the 1st Annual Analyst Day to be held September 24, 2013.
While I had hoped this might be a presentation fast tracking Novavax's RSV-F vaccine, their Wedbush presentation on August 14 ruled out that possibility - at least in two of the three population groups - RSV in the elderly remains a fast-track possibility. Then came Lazard.
On August 15th, Lazard Capital Markets through analyst William Tanner who was quoted in my article reiterated their buy position and raised the target price to $11 from $4.
Question: What caused their reappraisal of Novavax's worth? Answer: Their reassessment of the value of Novavax RSV-F vaccine.
In Lazard's own words through the aforementioned William Tanner:
Novavax RSV-F vaccine is potentially one of the most under appreciated assets in the industry.
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