ONLINE FOREX BROKER
2022-11-22 • Updated
Novavax Inc. is an American biotechnology company that develops vaccines to fight severe infectious diseases. By 2020, company scientists have developed experimental vaccines against Ebola, influenza, respiratory syncytial virus (RSV), and other emerging infectious diseases. In 2020, the company refocused its efforts on developing and approving its NVX-CoV2373 COVID-19 vaccine. In addition, Novavax indicated that it recognizes the ongoing need for innovative vaccines in other therapeutic areas and says it has taken steps to ensure that its influenza vaccine is further improved.
Their Nuvaxovid vaccine was approved in the EU at the end of 2021 and in Canada in February 2022 as the fifth COVID-19 vaccine after Pfizer/BioNTech, Moderna, Janssen, and AstraZeneca.
Novavax shares (NVAX -7.43%) fell on Wednesday, February 23, in no small part due to analysts' rather sharp cut in their target price. By the time the smoke cleared, the biotech stock was down more than 7% on the day. Now the cost of Novavax stock is around $73.50.
Although many countries have already approved Novavax vaccine, the US is still delaying the approval. Novavax stake is on their vaccine to be an alternative for other current vaccines because it’s based on a well-understood protein-based vaccine platform. They are sure that it can prevent COVID-19 better.
However, last autumn FDA declared that Novavax vaccines produced at US plants were not meeting purity standard. It provoked the decrease in NVAX stocks below $140. Now they improved their vaccine to the FDA standards and they’re waiting for its approval.
Novavax’s situation will become more apparent after the company’s results of Q4 and 2021 data in general on February 28.
Apparently, most analysts are optimistic about Novavax, and they expect improvement. However, Investing.com forecasts EPS to be -0.36, and cnn.com supposes that it can range from -5.16 to 7.89. Revenue is forecast to be 453.5M.
After the Q3 release, the Novavax stock fluctuated roughly. The company reported a net loss of $322.4 million, or $4.31 per share, for the third quarter of 2021, compared to a net loss of $197.3 million, or $3.21 per share, for the third quarter of 2020. NVAX revenue in the third quarter of 2021 was $178.8 million compared to $157.0 million in 2020.
Many analysts are now quite optimistic about Novavax. In their view, the company will generate large amounts of revenue over the next two years. The problem is that these analysts are still expecting the FDA approval to go into effect relatively soon. Therefore, if there is any failure in this scenario, their predictions may be wrong. The main pitfall seems to be the slowing down of pandemic, that can lead to irrelevance of this vaccine.
The stock is currently quite cheap. In addition, it is supported by the 200-week MA at 73.90. It’s also in the area, which has been attracting investor demand since 2020. If the company delivers a good report next week, we may see a double bottom and recovery towards $100.
In the longer term, the stock needs to rise above $100 to get to $140. On the contrary, if the price slides below $70, it may be a start of a big selloff.
To sum up, Novavax is at a crossroads, will their statistics help them to improve the situation? Let’s continue to follow the news about this company and we’ll see.
The previous year 2022, was undoubtedly tumultuous for the stock markets, with several stocks plummeting across multiple industries. Analysts have blamed the hard times on inflation, hawkish federal reserve policies, an impending global recession, and the ongoing crisis in Ukraine. This year, however, we're beginning to see some recovery in the stock markets. This article will find a few stocks worth buying this year.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
In a call scheduled for January 25, 00:30 am GMT+2, the Tesla Inc. team will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
Let's dive into the latest developments shaping the global economic landscape. Good news first: the threat of an unprecedented US debt crisis has receded, as US lawmakers passed a bill to raise the debt ceiling and avoid a catastrophic default. Phew! But don't pop the champagne just yet, because storm clouds are still looming. High inflation, rising interest rates, and sluggish growth are challenges that have yet to disappear.
Thanks to the incredible advancements in horizontal drilling and fracking technology, the United States has experienced a mind-blowing shale revolution. They've become the heavyweight champion of crude oil production, leaving Saudi Arabia and Russia in the dust. They even turned the tables and became net exporters of refined petroleum products in 2011.
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
