Piper Jaffray analyst Edward Tenthoff upgraded Novavax (NVAX) to Overweight from Neutral and doubled his price target for the shares to $4 from $2. The stock closed Friday up 1c to $1.72.
Novavax completed enrollment of 4,636 pregnant women in the Phase III Prepare trial of ResVax with top-line data expected in Q1 of 2019, Tenthoff tells investors in a research note. Positive results could position the company to file with the FDA and European Medicines Agency by Q1 of 2020, adds the analyst.
Further, Tenthoff points out that Novavax completed enrollment of 1,375 healthy adults in the Phase II study of quadrivalent NanoFlu with top-line immunogenicity data also expected in Q1 of 2019. He upgrades the shares ahead of the data readouts.
