Vaxart 16% spike follows overweight rating from Piper Sandler (updated)

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• Shares of Vaxart (NASDAQ:VXRT) are up more than 16% to $8.37 in afternoon trading after Piper Sandler initiated coverage with an overweight rating and a $18 price target.
• Analyst Yasmeen Rahimi notes that the company has five oral vaccines in the clinic: for COVID-19, norovirus, and influenza.
• Only Rahimi and another analyst cover Vaxart. The other has a price target of $13.
• Vaxart is one of several companies potentially impacted by an FDA decision late last month that the agency may not grant Emergency Use Authorizations for COVID-19 vaccines if the companies have not yet begun discussions with the regulator.