Novavax: Always Happens
Novavax (NVAX) surged as Wainwright slapped a $6 target on the $2 stock, but guess what happened to the small biotech stock.
- Uber-bull H.C. Wainwright initiates coverage on Novavax with a Buy rating and $6 (174% upside) price target. Analyst Vernon Bernardino believes peak sales of its RSV vaccine could top $2B by 2025, assuming an FDA filing in early 2020.
Incredibly, the stock ended down on the day despite a very bullish call. Investors can read my previous posts on Novavax, but this is what always happens to the stock. The company always sells shares on any and every bullish run in the stock.
Just once, it would be nice if Novavax just let the stock run before selling more shares or starting the next trial.
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