Medical companies are experiencing a 'second youth' today on a wave of reports of an increasingly severe coronavirus pandemic in China. According to British research firm Airfinity, the number of coronavirus-related deaths in China is accelerating and has already reached 9,000 cases a day:
The reemergence of the coronavirus pandemic theme has pushed up valuations of Biontech (BNTX.US) and Pfizer (PFE.US) shares, both the first companies to receive Federal Drug Administration (FDA) approval for a vaccine against Covid-19, in the fall of 2020. Moderna (MRNA.US) shares also gained.
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Open account Try demo Download mobile app Download mobile app- Novavax shares have been under pressure recently due to the results of a recent study conducted by a group of Australian scientists. They received primary and booster doses of COVID vaccines from Pfizer, Moderna, Novavax and AstraZeneca between March and May of this year. During this period, there was a peak incidence of the Omicron BA.1 and BA.2 variants. The study found that the infection rate, based on PCR testing, was about 49% after the primary dose and 50% after Pfizer's third booster dose. After the baseline dose of Moderna vaccine, the infection rate was 45%, and 48% after the third dose. In contrast, the rate was 53% after the primary dose of Novavax vaccine, and the booster dose unexpectedly increased the rate to 58%. However, the study has not yet been peer-reviewed, and the researchers suggested that further studies be conducted to confirm the results. A potential change in the study's conclusions in favor of Novavax could support a longer recovery in the company's stock. Novavax's vaccine was approved for marketing in Australia in May of this year.
Analysts' consensus is for a 600% increase in the share price from current levels with a maximum target price forecast of $100 and a lowest forecast of $13, potentially representing nearly 30% potential from current levels. Source:TipRanks
Novavax (NVAX.US) chart, D1 interval. The stock has completely erased the gains initiated in March 2020 and landed at the extreme low price levels reached during the covid crash in March 2020. Source: xStation5
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