Novavax hits a 52-week high as Sanofi deal prompts J.P. Morgan upgrade [Seeking Alpha]
Sanofi - American Depositary Shares (SNY)
US:NYSE Investor Relations:
sanofi.com/en/investors
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Source: Seeking Alpha
on the back of a licensing deal with Sanofi ( SNY ), drawing an upgrade from J.P. Morgan. The deal linked to the company's COVID-19 vaccine and valued at up to $1.2B, including $500M upfront, “brings in flu heavy weight and lifts going concern,” J.P. Morgan analyst Eric Joseph wrote, referring to the French drugmaker's robust flu vaccine franchise. “We view the deal as being transformative to Novavax's overall business,” he added, upgrading Novavax ( NVAX ) to Neutral and Underweight. With Sanofi ( SNY ) expected to join the company's commercialization efforts in 2025, many issues Novavax ( NVAX ) encountered with the rollout of its COVID-19 shot, Nuvaxovid, in the 2023–24 season are unlikely to repeat. J.P. Morgan opined. “With the near-term cash addition and ability to fold Nuvaxovid into Sanofi's commercial structure, we now see a much rosier picture for NVAX, and so are upgrading to Neutral,” Joseph wrote. Despite today's surge, Novavax ( NVAX ), which fell behind its ri
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SNY
Sec Filings
- 5/2/24 - Form 6-K
- 4/25/24 - Form 6-K
- 4/4/24 - Form F-3ASR
- SNY's page on the SEC website