Stocks of Novavax Are Soaring; analysts said that Result of Covid-19 vaccine is Best Among Others
When the Novavax had released the data about a trial on the first human for a vaccine of Covid 19. The stocks analysts are saying the data looks amazingly promising as it is soaring.
On the night of Tuesday, the shares of Novavax have crashed a bit as there is a confusion that the trial which is happening is safe or not. But on Wednesday, the share price of Novavax has surged to $181 per share, which is 15.1%.
This year more than 4300% of stocks been surged.
On the morning of Wednesday, Charles Duncan, Cantor Fitzgerald analyst, said that the vaccine of Covid 19 made by Novavax had made a viable dare. Eric Joseph, an analyst of J.P. Morgan, said that it is not far to stretch, and conclude and neutralizing antibody is best. He could set a target price of $275.
Both of the analysts had warned that it is challenging to neutralize an antibody activity, and many sets of data come out due to the trails of Covid-19.
On Tuesday, Novavax had made the statement about announcing the result that half of the Phase 1 trial for Covid-19 has been randomized, and a trial was done in a controlled manner on 131 adults who are healthy. All those after received the second dose had developed the neutralizing antibody. There were mild reactions and no adverse effects.
On Tuesday night, Josh Schimmer, Evercore ISI analyst, wrote that comparing levels of neutralizing antibodies between trials of the Covid-19 vaccine, it is seen that NVAX is a winner clearly. But this is not clear yet that there is any appropriate comparison or even the higher levels of getting neutralizing antibodies will not give higher protection from viruses.
The vaccine made by Novavax is based on better technology then the vaccines based on messenger RNA, which is under development from Pfizer (PFE) and Moderna (MRNA). Still not messenger RNA vaccines have not been approved by the regulators, but Novavax vaccines had somehow been approved by the Food and Drug Administration.
US government has given $1.6 billion to Novavax for developing vaccines. The planning to run the trail of Phase 3 later this year.