First off, Novavax finally got the U.S. Food and Drug Administration (FDA) approval for its Covid-19 vaccine that it’s been seeking for so long. This allows for the use of the vaccine in American adults.
Unfortunately for NVAX stock, that announcement also came alongside bad news from across the sea. The European Union’s European Medicines Agency (EMA) listed a “severe allergic reactions” warning as a possible side effect of the vaccine.
As if that wasn’t bad enough, the EMA listed another potential side effect for Novavax’s Covid-19 vaccine. That covers “unusual or decreased feeling in the skin.” All in all, this pulled NVAX shares down from a rally early this morning.
Now the real question investors have is if NVAX stock is still worth buying. Let’s check out the latest analysts’ opinions on that below!
Is NVAX Stock Worth Buying?
- Jefferies analyst Roger Song maintained a “buy” rating for the shares with a price target of $190.
- H.C. Wainwright analyst Vernon Bernardino reiterated a “buy” rating for NVAX with a price target of $207 per share.
- B.Riley Financial analyst Mayank Mamtani continues to hold a “buy” rating for the company’s stock with a price target of $181.
NVAX started off strong this morning before quickly falling below yesterday’s close. As of Friday afternoon, the stock is up 1.7% alongside heavy trading.
Investors seeking out more of the latest stock market news will want to stick around!
InvestorPlace is home to all of the most recent stock news traders need to know about for Friday! Among that is what’s happening with shares of Plug Power (NASDAQ:PLUG) and DraftKings (NASDAQ:DKNG), as well as the latest housing market situation. You can find all of that at the following links!
More Friday Stock Market News
- Why Is Plug Power (PLUG) Stock Down 15% Today?
- Dear DKNG Stock Fans, Mark Your Calendars for Aug. 5
- 3 Reasons the Housing Market May Not Ease for Homebuyers
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.