Novavax stock doubles after Sanofi deal marks 'new chapter' for company
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 10 2024
0mins
Source: Yahoo Finance
- Novavax Stock Soars: Novavax stock (NVAX) surged by 120% after Sanofi announced a $1.2 billion investment in Novavax's COVID-19 vaccine and took a minority stake in the company.
- Financial Boost for Novavax: The deal with Sanofi provided Novavax with much-needed cash as the company had been struggling financially post-pandemic boom.
- Turnaround for Novavax: The deal with Sanofi has turned Novavax around from near failure, reducing liabilities and expenses under new CEO John Jacobs.
- Deal Details: Sanofi's investment includes an upfront payment of $500 million to Novavax, up to $700 million for milestones, and potential future investments in new vaccines.
- Platform Match with Sanofi: Novavax and Sanofi have similar vaccine platforms using recombinant protein, offering long-term protection, and missed out on the pandemic market initially.
Analyst Views on SNY
Wall Street analysts forecast SNY stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SNY is 78.52 USD with a low forecast of 57.00 USD and a high forecast of 116.57 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Analyst Rating
2 Buy
3 Hold
0 Sell
Moderate Buy
Current: 46.500
Low
57.00
Averages
78.52
High
116.57
Current: 46.500
Low
57.00
Averages
78.52
High
116.57
About SNY
Sanofi SA is a France-based healthcare company based in France. The Company focuses on patient needs and engages in the research, development, manufacture, and marketing of therapeutic solutions. Its three operating segments are: Pharmaceuticals, Consumer Healthcare (CHC), and Vaccines. The Pharmaceuticals includes: Immunology, Multiple Sclerosis / Neurology, Oncology, Rare Diseases, Rare Blood Disorders, Cardiovascular, Diabetes, Established Prescription Products. The Vaccines segment comprises, for all geographical territories, the commercial operations of Sanofi Pasteur, together with research, development, and production activities dedicated to vaccines. The CHC segment comprises the commercial operations for Sanofi’s Consumer Healthcare products, together with research, development and production activities dedicated to those products. The Company’s products developed in collaboration or franchise include Dupixent, Aubagio, Lemtrada, Cerezyme, Lumizyme, Jevtana, Fabrazyme.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
