Seeking Alpha

Novavax jumps, Wedbush sees big upside

  • Shares of Novavax (NVAX +7.5%) are outperforming on the session.
  • Helping the cause is Wedbush's Gregory Wade, who is out raising his price target on the name to $12 (from $4), representing upside of 210% from Friday's close.
  • The call comes as Wade "reformats and revises" his financial projections to include "potential sales of an RSV-F combination product."
  • More color: "We now project NVAX will launch a combination RSV-F vaccine in H2 2018 and H2 2019 in the US and Europe, respectively, and that sales will reach nearly $1B by 2020."
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