PFE

Pfizer, Inc.

52.43
USD
2.93%
52.43
USD
2.93%
38.93 61.71
52 weeks
52 weeks

Mkt Cap 292.46B

Shares Out 5.58B

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Why Novavax Was Tumbling by 12% This Week

What happened The coronavirus might be surging in various parts of the world, but this hasn't made coronavirus stock Novavax (NASDAQ: NVAX) a compelling buy lately. Data provided by S&P Global Market Intelligence reveal that the company's shares were down by just under 12% week to date as of Thursday's stock market close. So what Novavax has been somewhat of a perennial laggard in what was once a compelling race to bring a coronavirus vaccine to market. As fellow COVID jab developers like Moderna and the partnership of Pfizer and Germany-based biotech BioNTech were winning authorizations for their products from major regulators, Novavax was still getting its act together with formal submissions. These days, Novavax is still on the bubble for all-important Food and Drug Administration (FDA) authorization of its NVX-CoV2373 (AKA Nuvaxovid). Although an FDA advisory committee is set to review the company's submission for Emergency Use Authorization (EUA) on June 7, even if successful this will likely be seen as many days late and quite a few dollars short by investors -- the Moderna and Pfizer/BioNTech shots were both initially green-lighted in late 2020. Now what Compounding this, at the end of last week one of the "big four" banks initiated coverage on Novavax stock, and the recommendation wasn't exactly glowing. Bank of America Securities analyst Alec Stranahan slapped the shares with an underperform (read:sell) recommendation at a price target of $35. The prognosticator feels that broad sector weakness plus "tempered expectations" with COVID and seasonal flu vaccines could drive the already weakened Novavax share price even lower. 10 stocks we like better than Novavax When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Novavax wasn't one of them! That's right -- they think these 10 stocks are even better buys. *Stock Advisor returns as of April 27, 2022 Bank of America is an advertising partner of The Ascent, a Motley Fool company. Eric Volkman has no position in any of the stocks mentioned. The Motley Fool recommends Moderna Inc. The Motley Fool has a disclosure policy. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

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