B. Riley Adjusts Price Target on Novavax to $16
B. Riley analyst adjusted the price target for Novavax to $16 from $18 while maintaining a Buy rating.
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Novavax has received a $125 million milestone payment following the initiation of Sanofi's Phase 3 clinical trial for an influenza-COVID-19 combination vaccine.
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B. Riley analyst adjusted the price target for Novavax to $16 from $18 while maintaining a Buy rating.
Novavax reported Q3 2026 loss of 19 cents per share, beating estimates, with revenues of $68 million exceeding consensus. The company raised 2026 revenue guidance to $385-$415 million, primarily driven by a $125 million Sanofi milestone. Despite operational improvements and cost reductions, shares fell 8.2% as investors focused on the one-time nature of the milestone and dependence on a potential 2029 U.S. vaccine launch for profitability.
Novavax announced its Q3 2026 financial results, reporting $68.3 million in revenue and a narrowed net loss, while raising its full-year 2026 revenue guidance.
Filed: 2026-11-05 AccNo: 0001000694-26-000021 Size: 403 KB Item 2.02: Results of Operations and Financial Condition Item 9.01: Financial Statements and Exhibits
TD Cowen has increased its price target for Novavax, Inc. from $9 to $11.