Why Vaxart Shares Are Trading Higher Today

Vaxart Inc VXRT shares are trading higher by 30% at $9.34 Friday morning after Piper Sandler initiated coverage on the stock with an Overweight rating and $18 price target.

Vaxart is a clinical-stage biotechnology company. It focuses on the development of oral recombinant vaccines to protect against a wide range of infectious diseases.

The products under Vaxart's tablet pipeline consist of the treatment of Coronavirus, Norovirus, Seasonal Influenza, RSV (respiratory syncytial virus), and HPV (Human papillomavirus) Therapeutic.

Vaxart operates in a single segment, which is the discovery and development of oral recombinant protein vaccines. Geographically all the business activity functions through the region of the United States.