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Several analysts reiterate buy ratings for Novavax and one raises his price target by 15% from $146 to $168.• Here is a clip from what the Cantor Fitzgerald analyst had to say as he raised the price target and maintained an Overweight rating:
Read more here: https://thefly.com/landingPageNews.php?id=3527767&headline=NVAX-Novavax-price-target-raised-to--from--at-Cantor-Fitzgerald • Here is an excerpt related to the H.C. Wainwright analyst:
Here is the link: The summary of the Wainwright note above has one inaccurate sentence: “the panel did not conclude that it was a risk that outweighed benefits the vaccine could provide.” In fact, the committee did not determine that myocarditis was a risk at all. At least three times during the meeting, the FDA officials made it clear that no data showed a causal link or risk. Novavax also explained twice that the data didn’t show any risk or link. They explained that the rate of cases in the vaccinated group was statistically the same as the rate of cases in the placebo group. Also, a study by the EU's drug agency found that during and after the crossover of the US and UK trials (when all placebo people received vaccine and some people received boosters), there should have been between 1.6 and 4.6 cases based on normal rates in the general population. The mid-point of that range is 3.1 cases. The number that occurred was the same: 3. Moreover, of 612,000 doses given post-EUA in Europe, South Korea and other countries, there were zero cases of myocarditis or pericarditis. The only reports of possible myocarditis or pericarditis were in Australia, but none of them met the case definition for those conditions. However, it seems that a poorly worded sentence in the FDA briefing document had caused a portion of the committee members to think there was some likelihood of a causal relationship between the vaccine and myocarditis. But in addition to Novavax's own data presentation, the FDA 3 times said there was no data to show a link or risk. A user at InvestorVillage, Filvax, gave a breakdown of the three times a committee member asked about possibly adding a warning to the label. All three times, the FDA rejected the notion due to no data showing a risk or link. Here are excerpts from Filvax’s post. Note that when he says the committee made three attempts, he means one or more persons on the committee did. It wasn’t a situation of the whole committee doing so. There are 22 committee members, and the only time they acted in unison was during the vote at the end. Here are the excerpts of Filvax's critique of the H.C. Wainwright sentence:
Click here to see the post on Investor Village: http://www.investorvillage.com/smbd.asp?mb=193&mn=181363&pt=msg&mid=23278692• Cowen analyst Georgi Yordanov noted that Novavax received an overwhelmingly positive FDA Advisory Committee vote, reiterating his Outperform rating and $150 price target on Novavax. Here is a clip of a comment he made before the meeting: Here is the full text: To receive a daily Novavax news and information newsletter for free that contains updates similar to the one above, sign up here: novavaxinformation.com. This website and newsletter are not owned by or affiliated with Novavax Inc. in any way. |
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