- Novavax (NVAX +8.3%) is up sharply in morning trading.
- Helping the cause is FBR's William Tanner, who calls the company "one of the mos compelling small-cap vaccine plays in the biopharma sector by virtue of the vaccine for preventing RSV infection."
- Although Tanner thinks absence of visibility into stockpiling plans makes it "difficult to ascribe much value" to NVAX's pandemic vaccine programs, he says that "if safe and effective, the [RSV] vaccine could have broad utility for preventing infection in pregnant women, neonates (by virtue of maternal vaccination), infants, and young children and the elderly."
- Shares initiated at Outperform.
- Price target is $11, representing upside of around 280% from Tuesday's close.
FBR sees huge upside for Novavax on RSV vaccine potential
Oct 30 2013, 11:16 ET