Novavax (NVAX) Stock – Laurent Hallut Wealth Management sees 30-40% upside potential
Novavax Stock Recommendation by Chief Strategist of Laurent Hallut – Mr. Roger Matthews. Laurent Hallut Wealth Management was one of the few investment firms took allocation of these $200 milion private placement, which took place in mid of June 2020
BriefingWire.com, 6/28/2020 – Anyone following the market in 2020 will be aware of the massive gains made by biotechs fighting the coronavirus. For companies in search of a vaccine or treatment, valuations have soared dramatically, as investors have piled in on the hope one can bring a viable solution to market.
Among those making headlines, vaccine specialist Novavax (NVAX) has earned its place as one of 2020’s star performers. Based on a 1,658% year-to-date increase, there’s no doubt regarding its success.
Yet, Laurent Hallut chief strategist Mr. Roger Matthews argues there are more gains on the way. In fact, the 5-star wealth management company based in London with operation office in Brussels has just increased its price target for the vaccine stock by almost 100% until end of the 2020 year or around 150$ per share.
In addition to reiterating an Overweight rating, the price target moves from $77 to $110. There’s upside of “only” 40%, should Matthews target be met over the next 3-6 months.
Novavax is one of the companies developing an experimental COVID-19 vaccine, deeming its candidate NVX-CoV2373. However, the biotech was excluded from the list of five companies chosen to receive support as part of the Trump administration’s Operation Warp Speed program. Along with being further behind in development, a possible reason for the omission was the company’s lack of resources compared to pharma giants such as J&J, Merck and Pfizer.
However, Mr. Roger Matthews notes recent grants from the CEPI ($384 million in total) and $60 million from the DoD to fund the vaccine’s development, in addition to the sale of 4.4 million shares worth $200 million, have strengthened the balance sheet considerably as well as levelled the playing field. Furthermore, the recruitment of established biotech veterans is another indication that Novavax can compete with more established names.
Laurent Hallut Wealth Management was one of the few investment firms took allocation of these $200 milion private placement, which took place in mid of June 2020.
Matthews said, “To us, this trilogy of events enhances our conviction in Novavax’s pipeline potential… As a result of the DoD and CEPI funding and logistical support, we believe that large-scale manufacturing capabilities are being put in place for NVXCoV2373. With assistance from these organizations, it is our belief that potential manufacturers have been identified and that, in conjunction with a tech transfer process that should not be overly complicated, the company can deliver a high quantity of vaccines.”
The majority of the Wall Street top analayst concurs. Novavax’s Strong Buy consensus rating is based on 5 Buys and 1 Hold.
For more information about the stock contact further Laurent Hallut Wealth Management – London office.
About Laurent Hallut Wealth Management:
Laurent Hallut provides exceptional independent financial advice and wealth management services to international professionals and institutions around the globe. Established in 2014 in the heart of Europe – Brussels with trading and investment operational branch in the financial capital of Europe – London, our company is designed to serve international private clients and independent asset managers with open architecture access to the global financial markets, dedicated assets management programs, and tailored-made financial services
London Office
Level 8, 25 Cabot Square,
Canary Wharf, London
+44 208 068 1416
london@laurenthallut.com
For more information, visit: http://www.laurenthallut.com
