HC Wainwright Says Non-mRNA COVID-19 Option Underappreciated

  • HC Wainwright says safety concerns were noted for Novavax Inc's NVAX COVID-19 vaccine, but the strength of data showed that benefit outweighs risks. 
  • With a 21-0 vote (one abstention) for Emergency Use Authorization (EUA), moved the first traditional, protein-based COVID-19 vaccine closer to becoming available in the U.S. 
  • HC Wainwright believes six cases of heart inflammation observed in clinical studies are notable. The VRBPAC did not conclude that it was a risk that outweighed the benefits. 
  • As experience with the shot is limited, long-term safety remains to be established, and the analysts acknowledge that a causal relationship between myocarditis/pericarditis and vaccination needs further study. 
  • Also Read: Why This Novavax Analyst Remains Bearish After COVID Vaccine Panel Vote.
  • Incidences of myocarditis/pericarditis ranging as high as 97.3 per million doses administered have been observed by the CDC for currently authorized COVID-19 vaccines from Pfizer Inc PFEBioNTech SE BNTX and Moderna Inc MRNA
  • "We believe the option to have a vaccine available that does not use messenger RNA (mRNA) technology is underappreciated," the analysts write.
  • It reaffirms projections of $4.4 billion and $5.8 billion in global sales in 2022 and 2023, respectively, and reiterates a Buy rating and a price target of $207.
  • Price Action: NVAX shares are up 8.25% at $51.46 during the market session on the last check Wednesday.
  • Photo by hakan german from Pixabay
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorBiotechNewsHealth CareReiterationAnalyst RatingsGeneralBriefsCOVID-19 CoronavirusCOVID-19 Vaccine
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!