10 Stocks Under $4 With Upside
3. Novavax (NVAX) is a clinical-stage biopharmaceutical company developing recombinant vaccines. Using advanced proprietary virus-like particle (VLP) technology, Novavax develops novel vaccines to treat a broad range of infectious diseases worldwide, including H1N1.
The company's future performance is expected positive, based on its funding and licensing deals. In February, the company secured a three-year flu-vaccine contract valued $97 million from the U.S. government. Sources say the contract could be extended for another two years raising the total value by $82.1 million.
Meanwhile, the company announced entering a licensing agreement with LG Life Sciences (LGLS) of South Korea, for using its vaccine technology in South Korea and other countries. The company is expected to receive an undisclosed, upfront and milestone payment from LGLS, in the form of royalty payments from commercial product sales. Also, the HHS Biomedical Advanced Research and Development Authority (BARDA) of the U.S. awarded Novavax a three-year contract worth $97 million with an option to extend it by two additional years, carrying a potential contract value of $179.1 million.All the four analysts covering the stock recommended a buy rating on it. The stock's average 12-month price target is $6.3, which is 137.6% higher than the stock's current price, as per analysts surveyed by Bloomberg.
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