Novavax initiated with an Outperform at Oppenheimer. Oppenheimer analyst Kevin DeGeeter started Novavax with an Outperform rating and $4 price target. The analyst believes the company’s respiratory syncytial virus program will generate $250M-plus in peak sales due to its first-to-market position and potential for upside from off-label use in elderly. He also views the NanoFlu vaccine program as underappreciated, with upside based on potential for better potency than market share leader FluZone.
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